Iamgold (IAG)


Market Price (10/1/2026): $18.22 | Market Cap: $10.5 BilSector: Materials | Industry: Gold

Iamgold (IAG)


Market Price (10/1/2026): $18.22
Market Cap: $10.5 Bil
Sector: Materials
Industry: Gold

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 15%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 87%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 48%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 54%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 44%

Megatrend and thematic drivers
Megatrends include Sustainable Resource Management, and Renewable Energy Transition. Themes include Resource Efficiency Solutions, Solar Energy Generation, Show more.

Key risks
IAG key risks include [1] geopolitical instability in its West African and Surinamese mining regions and [2] a substantial debt burden that limits financial flexibility.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 15%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 87%
2 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 48%
3 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 54%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 44%
4 Megatrend and thematic drivers
Megatrends include Sustainable Resource Management, and Renewable Energy Transition. Themes include Resource Efficiency Solutions, Solar Energy Generation, Show more.
5 Key risks
IAG key risks include [1] geopolitical instability in its West African and Surinamese mining regions and [2] a substantial debt burden that limits financial flexibility.

IAG in ETFs

Weight = IAG's share of each fund

VXUS0.00%
VEA0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/30/2026

Iamgold (IAG) stock has gained about 15% since 6/30/2026 because of the following key factors:

1. Robust Financial Performance and Reaffirmed Production Guidance.

Iamgold reported strong financial results for fiscal Q2 2026, with adjusted EBITDA of $507.3 million and available liquidity of $1,348.1 million as of June 30, 2026. Despite a slight miss on revenue estimates at $845.97 million against a consensus of $882.92 million, the company confirmed its full-year gold production guidance of 720,000 to 820,000 ounces. This demonstrated operational stability and provided a positive outlook for the company's future output.

2. Strategic Focus on Asset Optimization and Shareholder Returns.

During fiscal Q3 2026, Iamgold emphasized a strategy prioritizing operational optimization and mine-life extensions across its portfolio rather than pursuing major new construction projects. The company projected that its Essakane mine would generate between $700 million and $800 million in cash flow this year, earmarking 100% of this capital for shareholder returns, commencing in late 2025 or early 2026. This commitment was evidenced by ongoing share repurchases, including $147.9 million (8.6 million shares) bought back in fiscal Q2 2026 and an additional $52.5 million (3.5 million shares) up to August 5, 2026, bringing the total to $510.4 million since December 2025.

Show more
Updated on 9/30/2026

Iamgold (IAG) stock has gained about 15% since 6/30/2026 because of the following key factors:

1. Robust Financial Performance and Reaffirmed Production Guidance.

Iamgold reported strong financial results for fiscal Q2 2026, with adjusted EBITDA of $507.3 million and available liquidity of $1,348.1 million as of June 30, 2026. Despite a slight miss on revenue estimates at $845.97 million against a consensus of $882.92 million, the company confirmed its full-year gold production guidance of 720,000 to 820,000 ounces. This demonstrated operational stability and provided a positive outlook for the company's future output.

2. Strategic Focus on Asset Optimization and Shareholder Returns.

During fiscal Q3 2026, Iamgold emphasized a strategy prioritizing operational optimization and mine-life extensions across its portfolio rather than pursuing major new construction projects. The company projected that its Essakane mine would generate between $700 million and $800 million in cash flow this year, earmarking 100% of this capital for shareholder returns, commencing in late 2025 or early 2026. This commitment was evidenced by ongoing share repurchases, including $147.9 million (8.6 million shares) bought back in fiscal Q2 2026 and an additional $52.5 million (3.5 million shares) up to August 5, 2026, bringing the total to $510.4 million since December 2025.

3. Favorable Gold Price Environment and Positive Analyst Sentiment.

The gold price experienced a sharp rally beginning in August 2026, driven by macroeconomic factors such as rising U.S. national debt concerns and sustained central bank gold purchases, with prices trading around $3,600 to $3,700 per ounce by late September 2026. This supportive metal price environment was complemented by positive analyst coverage. RBC Capital, for instance, raised its price target for Iamgold from $20.00 to $23.00, and National Bank reiterated a Buy rating with a C$35 price target. The announcement in fiscal Q2 2026 of a substantial increase in Côté Gold's Measured and Indicated Mineral Resources to 20.3 million ounces also underscored the company's strong asset base.

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Stock Movement Drivers

Fundamental Drivers

The 16.2% change in IAG stock from 6/30/2026 to 9/30/2026 was primarily driven by a 8.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)63020269302026Change
Stock Price ($)15.8418.4116.2%
Change Contribution By: 
Total Revenues ($ Mil)3,4063,6828.1%
Net Income Margin (%)29.5%31.4%6.5%
P/E Multiple9.39.2-0.7%
Shares Outstanding (Mil)5885781.7%
Cumulative Contribution16.2%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 9/30/2026
ReturnCorrelation
IAG16.2% 
Market (SPY)2.1%41.7%
Sector (XLB)-4.2%50.6%

Fundamental Drivers

The -2.2% change in IAG stock from 3/31/2026 to 9/30/2026 was primarily driven by a -43.7% change in the company's P/E Multiple.
(LTM values as of)33120269302026Change
Stock Price ($)18.8218.41-2.2%
Change Contribution By: 
Total Revenues ($ Mil)2,8533,68229.1%
Net Income Margin (%)23.3%31.4%34.8%
P/E Multiple16.49.2-43.7%
Shares Outstanding (Mil)578578-0.1%
Cumulative Contribution-2.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 9/30/2026
ReturnCorrelation
IAG-2.2% 
Market (SPY)17.6%53.8%
Sector (XLB)-2.2%55.8%

Fundamental Drivers

The 42.4% change in IAG stock from 9/30/2025 to 9/30/2026 was primarily driven by a 87.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)93020259302026Change
Stock Price ($)12.9318.4142.4%
Change Contribution By: 
Total Revenues ($ Mil)1,9673,68287.2%
Net Income Margin (%)40.6%31.4%-22.7%
P/E Multiple9.39.2-1.1%
Shares Outstanding (Mil)575578-0.5%
Cumulative Contribution42.4%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 9/30/2026
ReturnCorrelation
IAG42.4% 
Market (SPY)15.4%41.2%
Sector (XLB)10.1%53.6%

Fundamental Drivers

The 756.3% change in IAG stock from 9/30/2023 to 9/30/2026 was primarily driven by a 1340.7% change in the company's Net Income Margin (%).
(LTM values as of)93020239302026Change
Stock Price ($)2.1518.41756.3%
Change Contribution By: 
Total Revenues ($ Mil)9273,682297.3%
Net Income Margin (%)2.2%31.4%1340.7%
P/E Multiple51.29.2-82.0%
Shares Outstanding (Mil)481578-16.8%
Cumulative Contribution756.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 9/30/2026
ReturnCorrelation
IAG756.3% 
Market (SPY)84.5%28.5%
Sector (XLB)30.7%38.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
IAG Return-15%-18%-2%104%220%13%408%
Peers Return20%1%16%25%127%6%322%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
IAG Win Rate50%50%42%67%67%44% 
Peers Win Rate50%50%62%53%78%40% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
IAG Max Drawdown-45%-74%-39%-22%-25%-43% 
Peers Max Drawdown-31%-44%-31%-28%-22%-42% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: NEM, GOLD, AEM, KGC, AGI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/30/2026 (YTD)

How Low Can It Go

EventIAGS&P 500
2025 US Tariff Shock
  % Loss-17.8%-18.8%
  % Gain to Breakeven21.7%23.1%
  Time to Breakeven17 days79 days
2024 Yen Carry Trade Unwind
  % Loss-14.6%-7.8%
  % Gain to Breakeven17.0%8.5%
  Time to Breakeven2 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-28.9%-9.5%
  % Gain to Breakeven40.6%10.5%
  Time to Breakeven154 days24 days
2023 SVB Regional Banking Crisis
  % Loss-18.4%-6.7%
  % Gain to Breakeven22.6%7.1%
  Time to Breakeven15 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-67.8%-24.5%
  % Gain to Breakeven210.5%32.4%
  Time to Breakeven196 days427 days
2020 COVID-19 Crash
  % Loss-40.3%-33.7%
  % Gain to Breakeven67.6%50.9%
  Time to Breakeven38 days140 days

Compare to NEM, GOLD, AEM, KGC, AGI

In The Past

Iamgold's stock fell -17.8% during the 2025 US Tariff Shock. Such a loss loss requires a 21.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventIAGS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-28.9%-9.5%
  % Gain to Breakeven40.6%10.5%
  Time to Breakeven154 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-67.8%-24.5%
  % Gain to Breakeven210.5%32.4%
  Time to Breakeven196 days427 days
2020 COVID-19 Crash
  % Loss-40.3%-33.7%
  % Gain to Breakeven67.6%50.9%
  Time to Breakeven38 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-24.5%-19.2%
  % Gain to Breakeven32.4%23.8%
  Time to Breakeven50 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-25.0%-3.7%
  % Gain to Breakeven33.3%3.9%
  Time to Breakeven21 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-38.2%-12.2%
  % Gain to Breakeven61.7%13.9%
  Time to Breakeven17 days62 days
2014-2016 Oil Price Collapse
  % Loss-71.3%-6.8%
  % Gain to Breakeven248.7%7.3%
  Time to Breakeven119 days15 days
2013 Taper Tantrum
  % Loss-39.9%-0.2%
  % Gain to Breakeven66.3%0.2%
  Time to Breakeven955 days1 days
2008-2009 Global Financial Crisis
  % Loss-70.2%-53.4%
  % Gain to Breakeven236.0%114.4%
  Time to Breakeven113 days1085 days
Summer 2007 Credit Crunch
  % Loss-22.7%-8.6%
  % Gain to Breakeven29.4%9.5%
  Time to Breakeven20 days47 days

Compare to NEM, GOLD, AEM, KGC, AGI

In The Past

Iamgold's stock fell -17.8% during the 2025 US Tariff Shock. Such a loss loss requires a 21.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Iamgold (IAG)

IAMGOLD Corporation (IAG) is a Canadian-headquartered mining company primarily focused on gold. Its core business encompasses the entire lifecycle of gold production: exploring for new gold deposits, developing these discoveries into viable mines, and then operating established gold mines. This integrated approach allows the company to maintain a pipeline of projects from early-stage exploration to active production.

The company's main product is refined gold, which it extracts from its various mining operations. IAMGOLD boasts a diversified portfolio of assets, including producing gold mines in South America (Rosebel mine in Suriname), West Africa (Essakane mine in Burkina Faso), and North America (Westwood mine in Quebec, Canada). A significant growth project, the Côté gold project in Ontario, Canada, is currently under development and expected to be a major contributor, alongside the Boto gold project in Senegal and numerous other exploration and development initiatives across its global footprint.

As a producer of a globally recognized commodity, IAMGOLD sells its extracted gold into the international bullion market. Its primary customers are typically institutional buyers, central banks, and refiners worldwide. Gold serves various markets, including investment (as a store of value and hedge against inflation), jewelry, and industrial applications, thereby positioning IAMGOLD within the global commodities and financial markets.

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Iamgold is like a smaller Barrick Gold, focused on exploring and operating gold mines.

Iamgold is like a Newmont, but with its gold projects primarily in North America, South America, and West Africa.

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  • Gold: A precious metal extracted and produced from its mining operations.

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IAMGOLD Corporation (IAG) is a gold mining company. Companies in the gold mining industry typically extract gold and process it into a saleable form, such as dore bars or refined gold bullion. This product is then sold into the global commodity market.

Due to the fungible nature of gold as a commodity and the structure of the global gold market, gold mining companies generally do not have "major customers" that are publicly identified by name, in the same way a manufacturing or service company might. Instead, they sell their gold primarily to other companies in the wholesale market, including:

  • Gold Refineries: These specialized companies process dore bars into highly pure gold bullion (e.g., 99.99% pure), which meets international standards for trade.
  • Bullion Banks and Traders: These financial institutions and commodity trading firms act as intermediaries, buying and selling large quantities of gold in the wholesale market. They facilitate transactions and often hold gold inventories.

The ultimate demand for gold comes from various sectors, including jewelry manufacturing, industrial applications, central bank reserves, and individual investors, but IAMGOLD's direct sales are to the wholesale market participants mentioned above rather than directly to these end-users or a limited set of named major corporate customers.

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  • Metso Corporation (METSO.HE)
  • WSP Global Inc. (WSP.TO)

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Renaud Adams, President and Chief Executive Officer

Renaud Adams has over 30 years of global mining experience in senior executive positions and operations. He served as President and Chief Executive Officer of New Gold Inc. from 2018 to 2022, where he was responsible for the strategic repositioning of the company. Prior to that, Mr. Adams was President and Chief Executive Officer of Richmont Inc. from 2014 until its acquisition by Alamos Gold in November 2017. He also held the role of Chief Operating Officer at Primero Mining Corporation from 2011 to 2014 and was previously General Manager of IAMGOLD's Rosebel mine before becoming Senior Vice President, Americas Operations.

Maarten Theunissen, Chief Financial Officer

Maarten Theunissen possesses over 15 years of progressive experience within the mining industry. He served as Interim Chief Financial Officer and Vice President, Finance for IAMGOLD prior to his permanent appointment as CFO. Before joining IAMGOLD, Mr. Theunissen was the Chief Financial Officer for a Canadian junior gold producer and Senior Vice President of Finance for one of the world's largest uranium producers. He is a Chartered Accountant, designated in both South Africa and Canada, and commenced his career with KPMG in their mining group.

Bruno Lemelin, Chief Operating Officer

Bruno Lemelin was appointed Chief Operating Officer in September 2023. He previously held the position of Senior Vice President – Operations and Projects since March 2020, overseeing operational and project development activities. His tenure at IAMGOLD, which he joined in 2014, also includes roles as Regional Vice President – Americas and General Manager at the Essakane mine. Before IAMGOLD, Mr. Lemelin gained mining expertise with various international companies, including SNC-Lavalin as Vice President, Sustainable Mining, and Xstrata (now Glencore), where he held positions such as Head of Mining Engineering and Manager, Strategy, Risks and Communications. He holds a doctorate in mineral economics.

Annie Torkia Lagacé, Chief Legal and Strategy Officer

Annie Torkia Lagacé became Chief Legal and Strategy Officer at IAMGOLD in February 2025. She brings over two decades of experience as a Corporate and Mergers & Acquisitions lawyer, as well as an executive in the mining and industrial manufacturing sectors. Prior to this role, she served as Senior Vice-President, Legal Affairs, General Counsel, and Corporate Secretary of Bombardier, Inc. Ms. Lagacé also held positions in natural resources at Stornoway Diamond Corp and Cliffs Natural Resources.

Dorena Quinn, Chief People Officer

Dorena Quinn is the Chief People Officer at IAMGOLD Corporation, based in the Toronto office. She joined the company in 2018 and has progressively advanced through senior HR roles. Ms. Quinn is responsible for the architecture, implementation, and oversight of global employee programs, processes, and leadership capabilities, aimed at driving performance, engagement, inclusion, and belonging.

AI Analysis | Feedback

Here are the key risks to IAMGOLD Corporation's business, listed in order from most significant to less significant:

  1. Geopolitical and Security Risks in West Africa: IAMGOLD operates mines and projects in West Africa, specifically the Essakane mine in Burkina Faso and the Boto gold project in Senegal, as well as exploration projects in Guinea and Mali. These regions expose the company to risks associated with political instability, regulatory changes, security challenges, and social unrest. Such factors can disrupt operations, impact supply chains and transit routes, and potentially affect asset ownership or financial performance.
  2. Operational Challenges and Cost Pressures: While IAMGOLD has achieved significant success with its Côté Gold Mine, it continues to face operational challenges and higher costs at other key assets, including the Westwood mine in Quebec and the Essakane mine. These challenges can manifest as lower grades, transitional mining activities, grade variability, and inflationary pressures on input costs such as labor, energy, and consumables, which can impact overall production and profitability.
  3. Gold Price Volatility: As a gold mining company, IAMGOLD's financial results are highly sensitive to fluctuations in the global price of gold. A sustained decline in gold prices would negatively impact the company's revenues, cash flow, and profitability, tempering its overall financial outlook.

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AI Analysis | Feedback

IAMGOLD Corporation's primary product is gold. The addressable market for gold is global.

The global gold market size was valued at approximately USD 291.68 billion in 2024 and is projected to reach USD 400 billion by the end of 2030, with a compound annual growth rate (CAGR) of 6.51% during the forecast period (2025-2030). In terms of volume, the global gold market was estimated at 4.42 kilotons in 2024 and is expected to reach 6.32 kilotons by 2029, growing at a CAGR of 7.38% during that period. Another estimate indicates the market size stood at 4,890.0 Tons in 2025 and is expected to grow to 7,424.4 Tons by 2034.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for Iamgold (IAG) over the next 2-3 years:

  1. Côté Gold Mine Ramp-up and Optimization: The Côté Gold mine, which achieved nameplate capacity in June 2025, is a significant driver of future revenue. It recorded a strong first full year of production in 2025 and is projected to continue increasing its attributable gold production in 2026. Planned capital investments in 2026 focus on stabilization, optimization, and preparing for a contemplated expansion of Côté, with a "Super-Pit Expansion Study" expected in Q4 2026, which could further boost future production and revenue.
  2. Increased Production from Operating Mines: Beyond Côté, Iamgold's existing operations, Essakane and Westwood, also demonstrated production gains in Q4 2025. The company's 2026 guidance includes anticipated attributable gold production from all its operations, indicating a sustained focus on maximizing output from its asset base.
  3. Leverage to Gold Prices: Iamgold's revenue is highly sensitive to the price of gold. The company significantly benefited from higher average realized gold prices in 2025 and expects strong results in 2026, with gold prices around $5,000 per ounce, contributing substantially to revenue growth.
  4. Advancement of the Nelligan Mining Complex: The Nelligan Mining Complex is identified as a major future long-term growth driver and the largest pre-production stage gold project in Canada. Iamgold has increased its exploration budget for Nelligan and consolidated the complex through strategic acquisitions, which could lead to future mine development and production within the 2-3 year timeframe, strengthening its Canadian growth pipeline.
  5. Operational Efficiencies and Cost Control: While not a direct revenue driver, Iamgold's commitment to operational excellence and cost discipline is expected to drive down costs. These efforts, including optimizing processes at Côté Gold and installing additional crushing capacity, can lead to improved margins and stronger free cash flow. This enhanced financial health supports reinvestment in current operations and growth projects, indirectly contributing to sustainable revenue expansion.

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Share Repurchases

  • IAMGOLD deployed a share buyback program in December 2025, purchasing approximately $100 million in shares since its inception.
  • The company announced a normal course issuer bid (NCIB) in November 2025 to repurchase up to 57,000,000 common shares, representing 9.9% of its outstanding common shares, with the bid continuing until December 11, 2026.
  • The share buyback program is expected to continue in 2026, with a direct link to the cash flows generated by the Essakane mine.

Share Issuance

  • The number of IAMGOLD's shares outstanding increased by 6.56% in the year leading up to March 13, 2026.

Inbound Investments

  • Sumitomo Metal Mining was expected to fund approximately $340 million of IAMGOLD's 2023 funding requirement for the Côté Gold project under an amended Joint Venture Agreement.

Outbound Investments

  • In November 2025, IAMGOLD announced acquisitions to consolidate the Chibougamau region in Quebec, acquiring Northern Superior Resources Inc. and Orbec for approximately $267.4 million and $12.6 million (C$17.2 million) respectively, through a combination of shares and cash, to create the Nelligan Complex.

Capital Expenditures

  • Sustaining capital expenditures for 2026 are expected to be approximately $380 million, focused on operational reliability and infrastructure maintenance across the Côté, Essakane, and Westwood mines.
  • Expansion capital expenditures are projected to be $120 million in 2026, primarily allocated to early works at the Côté Gold project to de-risk a planned expansion.
  • As of May 1, 2022, the estimated remaining costs to complete the Côté Gold project were $1,908 million on a 100% basis ($1,335 million attributable to IAMGOLD), including contingency and escalation.

Better Bets vs. Iamgold (IAG)

Peer Outperformance in Gold

IAG has outperformed 100% of its 34 Gold peers over 5Y. Gold ranks 4th of 15 industries in Materials by median 5Y return.
Share of Gold constituents that IAG has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
88%
of 40 industry peers · 42.4% return
3Y
97%
of 39 industry peers · 756.3% return
5Y
100%
of 34 industry peers · 714.6% return
No Gold peer with a comparable growth profile has beaten IAG by more than 20pp over 5Y.
Median price return by industry across the Materials sector, ranked by 5Y. Gold is IAG's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Copper 7 73.4%103.7%180.0% TGB 364% · SCCO 340% · HBM 333%
Steel 13 17.7%33.3%157.4% NWPX 326% · STLD 309% · HCC 282%
Silver 6 56.8%297.7%149.8% AYA 338% · HL 216% · SVM 189%
Gold ← 35 7.6%214.9%147.1% IAG 715% · CNL 545% · OGC 484%
Aluminum 3 28.7%114.2%54.5% CENX 157% · KALU 55% · AA -11%
Construction Materials 7 -28.1%19.4%46.7% USLM 380% · CRH 87% · VMC 47%
Diversified Metals & Mining 23 -29.5%-11.4%6.8% ATLX 179900% · USAR 47148% · FMST 619%
Metal, Glass & Plastic Containers 11 -3.8%0.7%0.1% KRT 224% · MYE 78% · GEF 42%
Paper & Plastic Packaging Products & Materials 7 7.9%6.8%-8.0% PKG 91% · CCK 11% · SON -2%
Specialty Chemicals 41 9.7%1.3%-19.1% ODC 487% · NEU 187% · CMT 94%
Diversified Chemicals 4 -4.4%-28.4%-32.0% CBT 65% · ASH -18% · CC -46%
Precious Metals & Minerals 8 5.9%167.7%-33.0% ASM 572% · PPTA 319% · MTA 38%
Commodity Chemicals 12 6.1%-20.5%-34.0% HWKN 259% · KOP 47% · MEOH 31%
Fertilizers & Agricultural Chemicals 10 -21.2%-11.5%-46.8% CF 109% · CTVA 89% · NTR 24%
Paper Products 4 -37.0%-55.6%-73.1% SLVM 12% · CLW -50% · ITP -96%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

IAGNEMGOLDAEMKGCAGIMedian
NameIamgold Newmont Gold.com Agnico E.Kinross .Alamos G. 
Mkt Price18.22114.5542.53181.1824.0231.8937.21
Mkt Cap10.5122.0-90.928.613.428.6
Rev LTM3,68225,767-14,5268,4712,2288,471
Op Inc LTM1,74914,230-8,4754,4091,2704,409
FCF LTM1,6039,733-4,5493,0823203,082
FCF 3Y Avg3905,235-2,9391,9202211,920
CFO LTM1,99812,628-7,4174,4569904,456
CFO 3Y Avg9178,342-5,1663,1077233,107

Growth & Margins

IAGNEMGOLDAEMKGCAGIMedian
NameIamgold Newmont Gold.com Agnico E.Kinross .Alamos G. 
Rev Chg LTM87.2%25.2%-50.3%39.5%47.8%47.8%
Rev Chg 3Y Avg59.8%32.1%-34.4%29.4%33.1%33.1%
Rev Chg Q47.5%15.1%-35.0%29.5%35.6%35.0%
QoQ Delta Rev Chg LTM8.1%3.2%-7.3%6.4%7.5%7.3%
Op Inc Chg LTM213.1%77.0%-91.4%87.8%113.8%91.4%
Op Inc Chg 3Y Avg476.9%148.9%-78.0%147.4%73.1%147.4%
Op Mgn LTM47.5%55.2%-58.3%52.0%57.0%55.2%
Op Mgn 3Y Avg31.3%36.1%-44.6%36.7%43.3%36.7%
QoQ Delta Op Mgn LTM2.3%1.2%-1.4%1.8%2.6%1.8%
CFO/Rev LTM54.3%49.0%-51.1%52.6%44.4%51.1%
CFO/Rev 3Y Avg34.2%38.8%-48.2%47.6%45.0%45.0%
FCF/Rev LTM43.5%37.8%-31.3%36.4%14.3%36.4%
FCF/Rev 3Y Avg2.6%22.7%-26.6%28.1%13.8%22.7%

Valuation

IAGNEMGOLDAEMKGCAGIMedian
NameIamgold Newmont Gold.com Agnico E.Kinross .Alamos G. 
Mkt Cap10.5122.0-90.928.613.428.6
P/S2.94.7-6.33.46.04.7
P/Op Inc6.08.6-10.76.510.58.6
P/EBIT6.29.0-10.36.48.78.7
P/E9.114.2-15.59.011.411.4
P/CFO5.39.7-12.36.413.59.7
Total Yield10.9%7.9%-7.2%11.7%9.0%9.0%
Dividend Yield0.0%0.9%-0.9%0.6%0.4%0.6%
FCF Yield 3Y Avg-1.8%6.5%-4.9%9.4%2.3%4.9%
D/E0.10.0-0.00.00.00.0
Net D/E0.0-0.0--0.0-0.1-0.0-0.0

Returns

IAGNEMGOLDAEMKGCAGIMedian
NameIamgold Newmont Gold.com Agnico E.Kinross .Alamos G. 
1M Rtn-10.9%-8.9%-3.0%-10.6%-21.7%-12.8%-10.8%
3M Rtn15.5%23.0%2.6%17.3%2.5%5.3%10.4%
6M Rtn-7.4%1.1%4.9%-13.4%-24.8%-29.9%-10.4%
12M Rtn40.9%37.1%71.4%8.4%-2.8%-8.2%22.8%
3Y Rtn747.4%228.5%59.6%319.3%444.1%186.5%273.9%
1M Excs Rtn-10.5%-8.5%-2.5%-10.2%-21.3%-12.4%-10.3%
3M Excs Rtn13.3%20.8%0.3%15.0%0.2%3.1%8.2%
6M Excs Rtn-20.2%-10.8%-7.8%-27.3%-38.2%-45.0%-23.8%
12M Excs Rtn27.3%22.0%50.7%-5.1%-15.7%-22.2%8.5%
3Y Excs Rtn664.0%123.9%-21.4%216.8%331.1%95.9%170.3%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Essakane1,4901,083810883814
Côté Gold1,01428400 
Westwood complex40332317712162
Corporate-54-581-45 
Exploration and evaluation and development  00 
Total2,8531,633987959876


Operating Income by Segment
$ Mil20252024202320222021
Essakane6083849222083
Côté Gold465106-6-4-4
Westwood complex171579-10-41-94
Exploration and evaluation and development-31-16-22-29-32
Corporate-120-109-55-104-59
Total1,094944-041-105


Assets by Segment
$ Mil20252024202320222021
Côté Gold3,0533,0162,6381,8221,118
Essakane1,3081,2061,1001,1831,153
Westwood complex841822390349369
Exploration and evaluation and development41978472245
Corporate232252328264453
Assets held for sale  35786833
Total5,8525,3744,5384,4253,972


Price Behavior

Price Behavior
Market Price$18.41 
Market Cap ($ Bil)10.6 
First Trading Date07/15/2003 
Distance from 52W High-25.1% 
   50 Days200 Days
DMA Price$18.61$18.20
DMA Trendupup
Distance from DMA-1.1%1.1%
 3M1YR
Volatility59.3%65.0%
Downside Capture194.55249.46
Upside Capture256.82251.09
Correlation (SPY)41.6%41.2%
IAG Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta2.692.082.232.622.061.11
Up Beta-3.06-0.751.071.991.880.79
Down Beta7.735.503.503.471.090.86
Up Capture246%370%297%286%554%772%
Bmk +ve Days6162766132424
Stock +ve Days8212859134402
Down Capture347%124%182%243%163%105%
Bmk -ve Days16263760120328
Stock -ve Days14203362113325

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IAG
IAG43.7%64.9%0.81-
Sector ETF (XLB)10.7%17.9%0.4153.6%
Equity (SPY)15.9%13.0%0.8741.2%
Gold (GLD)8.1%29.6%0.2679.5%
Commodities (DBC)43.1%20.8%1.615.8%
Real Estate (VNQ)2.2%13.6%-0.0915.5%
Bitcoin (BTCUSD)-27.1%44.5%-0.5829.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IAG
IAG52.2%60.9%0.93-
Sector ETF (XLB)6.0%19.1%0.2037.5%
Equity (SPY)13.2%17.2%0.5926.3%
Gold (GLD)18.2%18.9%0.7863.8%
Commodities (DBC)10.6%19.6%0.4221.3%
Real Estate (VNQ)0.5%18.9%-0.0825.8%
Bitcoin (BTCUSD)13.9%52.3%0.4415.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IAG
IAG15.9%58.3%0.49-
Sector ETF (XLB)9.7%20.7%0.4125.9%
Equity (SPY)15.4%17.9%0.7318.2%
Gold (GLD)11.8%16.4%0.5862.4%
Commodities (DBC)8.4%18.1%0.3819.8%
Real Estate (VNQ)4.5%20.7%0.1818.7%
Bitcoin (BTCUSD)63.6%66.2%1.0314.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity8.3 Mil
Short Interest: % Change Since 831202611.9%
Average Daily Volume3.6 Mil
Days-to-Cover Short Interest2.3 days
Basic Shares Quantity578.0 Mil
Short % of Basic Shares1.4%

Earnings Returns History

Updated 6/3/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/20266-K
03/31/202605/05/20266-K
12/31/202502/18/202640-F
09/30/202511/04/20256-K
06/30/202508/08/20256-K
03/31/202505/06/20256-K
12/31/202403/21/202540-F
09/30/202411/07/20246-K
06/30/202408/09/20246-K
03/31/202405/09/20246-K
12/31/202303/15/202440-F
09/30/202311/09/20236-K
06/30/202308/10/20236-K
03/31/202305/11/20236-K
12/31/202203/28/202340-F
09/30/202211/08/20226-K
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/20266-K
03/31/202605/05/20266-K
12/31/202502/18/202640-F
09/30/202511/04/20256-K
06/30/202508/08/20256-K
03/31/202505/06/20256-K
12/31/202403/21/202540-F
09/30/202411/07/20246-K
06/30/202408/09/20246-K
03/31/202405/09/20246-K
12/31/202303/15/202440-F
09/30/202311/09/20236-K
06/30/202308/10/20236-K
03/31/202305/11/20236-K
12/31/202203/28/202340-F
09/30/202211/08/20226-K
06/30/202208/03/20226-K
03/31/202205/11/20226-K
12/31/202102/24/202240-F
09/30/202111/03/20216-K
06/30/202108/05/20216-K
03/31/202105/04/20216-K
12/31/202002/18/202140-F
09/30/202011/04/20206-K
06/30/202008/05/20206-K
03/31/202005/04/20206-K
12/31/201902/19/202040-F
09/30/201911/06/20196-K

Investor Activity (13F)

Updated Oct 1, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Mudita Advisors LLP$44.7 Mil9.1%28Hold13F
L1 Capital Pty Ltd$28.4 Mil1.1%22ADD +20.6%13F
Masters Capital Management LLC$5.6 Mil0.8%44New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Masters Capital Management LLC$5.6 Mil0.8%44New13F
L1 Capital Pty Ltd$28.4 Mil1.1%22ADD +20.6%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Mudita Advisors LLP$44.7 Mil9.1%28Hold13F
L1 Capital Pty Ltd$28.4 Mil1.1%22ADD +20.6%13F
Masters Capital Management LLC$5.6 Mil0.8%44New13F
Core Cache Last Updated: 9/30/2026