Canada's IAMGOLD Q2 adjusted EBITDA rises on higher gold prices
IAG•Q2 results
- Canada gold miner's Q2 revenue rose 48% yr/yr to $856.9 mln
- Q2 adjusted EBITDA was $507.3 mln, up 84% yr/yr
- Company repurchased $148 mln in shares during the quarter
Outlook for 2026
- IAMGOLD sees 2026 gold production at 720,000-820,000 oz
- Company expects consolidated cash costs, excluding royalties, in upper half of $1,100-$1,250/oz range
- Sustaining capital expenditures for 2026 forecast at $380 mln; expansion capital at $120 mln
Drivers behind the quarter
- CÔTÉ GOLD OPERATIONS - Conveyor belt replacement and commissioning of second cone crusher enabled near full capacity in June, with expected production increases and lower unit costs in H2, per CEO Renaud Adams
- COST IMPROVEMENTS - Discontinuation of external contractor crushing and operational upgrades led to lower processing costs in June and are expected to further reduce costs in H2
- HIGHER PRODUCTION COSTS - Increased diesel and electricity prices, contractor costs for conveyor repairs, and higher mine maintenance drove up production costs and cost of sales yr/yr
Analyst coverage and valuation
Related News
Innovex stockholders Amberjack affiliates launch 5 million-share secondary offering
INVX•
Aclaris wins FDA fast-track status for modzatinib in moderate-to-severe lichen planus, eyes Phase 2b start in Q4 2026
ACRS•
