IAMGOLD Corporation (IAG) is projected to show a year-over-year increase in its earnings when it releases its fourth-quarter 2024 results on February 20, following the market close.
Stay updated on earnings estimates and surprises with the Zacks Earnings Calendar.
IAMGOLD Set to Report Stronger Earnings for Q4 2024
Earnings Estimates Show Improvement
The Zacks Consensus Estimate for IAMGOLD’s earnings has decreased by 17.65% in the past two months, now standing at 14 cents per share. This figure represents a notable increase from the six cents per share noted in the fourth quarter of 2023.
Image Source: Zacks Investment Research
Consistent Earnings Surprises
IAMGOLD has consistently surpassed the Zacks Consensus Estimate in each of the last four quarters, achieving an average earnings surprise of 203.4% during this stretch.
Image Source: Zacks Investment Research
Current Predictions for IAG Earnings
Despite past successes, our model does not indicate a clear prediction for an earnings beat for IAMGOLD this quarter. A positive Earnings ESP and a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) can improve the chances of exceeding expectations, but unfortunately, this is not the case for IAMGOLD now.
Earnings ESP: IAMGOLD has an Earnings ESP of 0.00%. For insights on top stocks before earnings are reported, check out our Earnings ESP Filter.
Zacks Rank: IAMGOLD currently sits at a Zacks Rank of 3. You can view the complete list of today’s Zacks #1 Rank stocks here.
Production Insights for Q4
In a recent update, IAMGOLD disclosed its production and sales data for the fourth quarter, which gives insight into its expected performance. The company’s attributable gold production reached 177,000 ounces, an increase from 136,000 ounces in the same period last year. This uptick was mainly due to output from the Côté Gold mine, which began production in 2024, alongside enhanced performance at the Westwood mine.
For the fourth quarter, Côté Gold contributed 62,000 attributable ounces (96,000 ounces on a full basis). IAMGOLD had hoped to achieve a throughput of 90% by the end of the quarter but fell short due to ramp-up challenges that necessitated some downtime for solutions.
The Westwood mine produced 35,000 ounces, compared to 28,000 ounces in the previous year’s fourth quarter, benefiting from increased ore grade and a higher proportion of underground feed.
At the Essakane mine, attributable production was 80,000 ounces, down from 108,000 ounces year-over-year. This reduction was expected due to plans and guidance, and in December, the mine underwent its annual shutdown for maintenance and system replacements.
IAMGOLD reported fourth-quarter gold sales of 177,000 ounces at an average realized price of approximately $2,509 per ounce, translating to revenues of $444 million. This represents an increase from revenues of $298 million in the fourth quarter of 2023.
Despite higher revenues, increased prices for key consumables like cyanide and grinding media are expected to impact IAMGOLD’s margins. Additionally, higher operational costs at the Côté Gold Mine until throughput stabilizes at 90% may also pose challenges.
IAG Stock Performance Overview
IAMGOLD’s stock has climbed 148% over the past year, outperforming the industry, which grew by 50.4% during the same timeframe.
Image Source: Zacks Investment Research
Additional Stocks to Consider
Here are some companies in the basic materials sector that, according to our model, may achieve earnings beats this reporting cycle.
Osisko Gold Royalties (OR) is set to release its fourth-quarter 2024 earnings shortly. The company has an Earnings ESP of +7.15% and a Zacks Rank of 3 at present. The Zacks Consensus Estimate for Osisko Gold’s fourth-quarter earnings stands at 16 cents per share, reflecting a 33% rise year-over-year. OR has averaged a 6.63% earnings surprise over the last four quarters.
Newmont (NEM) will announce its fourth-quarter earnings on February 20. The company currently has an Earnings ESP of +6.44% and a Zacks Rank of 3. The Zacks Consensus Estimate for Newmont’s fourth-quarter earnings is set at 95 cents per share, marking a sharp increase of 90% from the prior year. Newmont has an average earnings surprise of 22.16% over the last four quarters.
CF Industries (CF), also scheduled to release fourth-quarter 2024 earnings on February 19, holds an Earnings ESP of +1.58% and a Zacks Rank of 3. The Zacks Consensus Estimate for CF’s fourth-quarter earnings is $1.49 per share, suggesting results similar to last year’s quarter. CF has seen a trailing four-quarter average earnings surprise of 10.25%.
Explore Zacks’ Top Stocks for 2025
Act quickly—our Zacks Director of Research, Sheraz Mian, has compiled a portfolio of 10 top stocks for 2025. This handpicked selection has delivered impressive returns, gaining over +2,112.6% since its inception in 2012, significantly outperforming the S&P 500’s +475.6% in that period. Discover these high-potential stocks before they become widely recognized.
Analysts Anticipate IAMGOLD’s Q4 Earnings Report: What Investors Should Know
As IAMGOLD Corporation (IAG) prepares to announce its fourth-quarter earnings, investors are keen to learn about the company’s financial performance. With various market factors influencing the mining sector, analysts are watching closely.
A Glance at the Mining Sector
The mining industry has faced volatility over the past few years. Gold prices saw significant fluctuations, largely influenced by global economic conditions and inflation concerns. Understanding IAMGOLD’s position amidst these changes could provide valuable insights for investors.
What to Expect from IAMGOLD’s Earnings
Analysts expect IAMGOLD to disclose key financial metrics including revenue, production costs, and future guidance during the upcoming earnings call. Strength in gold prices might positively impact the earnings, while any setbacks in production could raise concerns.
Key Players in the Market
Investors may also want to keep an eye on comparable companies such as Newmont Corporation (NEM), CF Industries Holdings, Inc. (CF), and Osisko Gold Royalties Ltd (OR). These firms are also gearing up to present their earnings and reflect current trends within the mining segment.
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
