IAMGOLD shares jump on the TSX after strong second-quarter production and adjusted EBITDA, with CEO Renaud Adams pointing to Cote Gold’s expanding long-term potential.
Investorideas.com (www.investorideas.com newswire), a leader in mining investing news and home of the Exploring Mining Podcast, issues a news and trading alert for IAMGOLD Corporation (NYSE: IAG) (TSX: IMG).
Gold prices soared higher this morning on Friday, August 7, 2026, extending their recent rally as investors digested a weaker-than-expected July U.S. jobs report.
For gold-focused mining companies and resource investors tracked on Investorideas, the upward move in the precious metal provides a supportive backdrop for equities sensitive to bullion prices, potentially enhancing project economics and re-igniting investor interest in the sector.
IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) joined the TSX top leaderboard following second quarter news and momentum for the sector. The stock is trading at $25.10 +2.62 (+11.65%) on the TSX as of this report.
Yesterday IAMGOLD Corporation reported its financial and operating results for the second quarter ended June 30, 2026.
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“IAMGOLD delivered another strong and safe quarter, producing 188,100 ounces of gold and generating $507.3 million of adjusted EBITDA, keeping us firmly on track to achieve our full-year guidance of 720,000 to 820,000 ounces,” said Renaud Adams, President and CEO. “At Cote Gold, the replacement of the conveyor belt in May and the commissioning of our second cone crusher allowed the plant to operate at near full capacity in June, and with contracted crushing now behind us, we expect production to increase and unit costs to decline through the second half of the year. Westwood and Essakane again delivered solid results. Our balance sheet has never been stronger, with a net cash position and $1.3 billion in liquidity, while returning nearly $150 million to shareholders in the quarter through our buyback program.”
“Beyond this near-term progress, the scale of Cote’s long-term potential continues to grow. As we advanced our technical work this year, the consolidation of the Cote and Gosselin Mineral Resources, now exceeding 20 million ounces of Measured and Indicated, materially expanded the opportunity set in front of us – and we have chosen to take the time to thoroughly evaluate rather than constrain it to a single scenario. As a result, the details of the updated technical report which are expected in the fourth quarter will outline a clear, near-term path to increase processing rates toward 40,000 tonnes per day through targeted debottlenecking, supported by a significantly larger reserve base, extended mine life and further cost optimization. Concurrently, we will continue to advance trade-off studies on a further expansion of the project, reflecting our growing conviction in the size and quality of this world-class asset and its ability to support a larger operation over the long term. With a strengthened balance sheet and a compelling pipeline of growth across Cote, Essakane, Westwood and Nelligan, IAMGOLD is exceptionally well positioned to create lasting value for our shareholders.”
HIGHLIGHTS:
Operating and Financial
- Attributable gold production was 188,100 ounces in the second quarter and 371,700 ounces year-to-date (“YTD”), with the Company on track to achieve its 2026 production guidance of 720,000 to 820,000 ounces.
- Cote produced 67,300 attributable ounces (96,200 ounces | 100%) in the second quarter and 119,600 attributable ounces YTD (170,900 ounces | 100%). Production at Cote is expected to be higher in the second half of the year driven by increased processing rates as the impact from recent operational improvements continue to be realized;
- Westwood produced 32,400 ounces in the second quarter and 68,600 ounces YTD; and
- Essakane produced 88,400 attributable ounces (104,000 ounces | 100%) in the second quarter and 183,500 attributable ounces (215,900 ounces | 100%) YTD.
- Revenues in the second quarter totaled $856.9 million from sales of 195,100 ounces at an average realized gold price1 of $4,384 per ounce and $1,887.0 million YTD from sales of 406,600 ounces at an average realized gold price of $4,631 per ounce.
- Cost of sales per ounce sold was $1,651 ($1,635 YTD), cash cost1 per ounce sold, excluding royalties was $1,289 ($1,244 YTD), cash cost1 per ounce sold, including royalties was $1,642 ($1,624 YTD), and all-in sustaining cost1 (“AISC”)1 per ounce sold was $2,271 ($2,195 YTD).
- Net earnings and adjusted net earnings attributable to equity holders1 for the second quarter was $230.5 million ($610.2 million YTD) and $241.6 million ($632.7 million YTD), respectively.
- Net earnings and adjusted net earnings per share attributable to equity holders1 for the second quarter of $0.40 ($1.05 YTD) and $0.42 ($1.09 YTD), respectively.
- Net cash from operating activities was $445.1 million for the second quarter ($1,015.0 million YTD). Net cash from operating activities, before movements in working capital and non-current ore stockpiles1, was $442.9 million for the second quarter ($1,072.4 million YTD).
- Earnings before interest, income taxes, depreciation and amortization (“EBITDA”)1 was $495.3 million for the second quarter ($1,152.3 million YTD), and adjusted EBITDA1 was $507.3 million ($1,173.6 million YTD).
- Mine-site free cash flow1 was $368.9 million during the second quarter ($893.5 million YTD).
- The Company has available liquidity1 of $1,348.1 million as at June 30, 2026. Cash and cash equivalents was $501.4 million and the available balance of the revolving credit facility (“Credit Facility”) was $845.7 million. Net cash, excluding leases and letters of credit1, was $52.2 million.
- In health and safety, for the quarter ended June 30, 2026, the Company reported a total recordable injuries frequency rate (“TRIFR”) of 0.70 and is tracking at 0.56 for the year. IAMGOLD is continuing to advance its critical risk management program and visible leadership to improve safety and reduce high-potential incidents.
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