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IAMGold Corporation (IAG)



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Upturn Advisory Summary
02/13/2025: IAG (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit 45.63% | Avg. Invested days 35 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 3.62B USD | Price to earnings Ratio 4.69 | 1Y Target Price 7.2 |
Price to earnings Ratio 4.69 | 1Y Target Price 7.2 | ||
Volume (30-day avg) 12186276 | Beta 1.5 | 52 Weeks Range 2.48 - 6.69 | Updated Date 02/14/2025 |
52 Weeks Range 2.48 - 6.69 | Updated Date 02/14/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.35 |
Earnings Date
Report Date 2025-02-13 | When After Market | Estimate - | Actual - |
Profitability
Profit Margin 49.57% | Operating Margin (TTM) 31.69% |
Management Effectiveness
Return on Assets (TTM) 4.44% | Return on Equity (TTM) 26.79% |
Valuation
Trailing PE 4.69 | Forward PE 8.3 | Enterprise Value 4093474480 | Price to Sales(TTM) 2.48 |
Enterprise Value 4093474480 | Price to Sales(TTM) 2.48 | ||
Enterprise Value to Revenue 2.8 | Enterprise Value to EBITDA 3.81 | Shares Outstanding 571200000 | Shares Floating 570366048 |
Shares Outstanding 571200000 | Shares Floating 570366048 | ||
Percent Insiders 0.11 | Percent Institutions 70.64 |
AI Summary
IAMGold Corporation: A Comprehensive Overview
This comprehensive overview of IAMGold Corporation (IAG), a Canadian gold mining company, delves into various aspects of its business, including its history, core products, market position, financial performance, and future prospects.
Company Profile:
History and Background:
Founded in 1990, IAMGold has a long history of successful exploration, development, and operations in North and South America and West Africa. Today, the company holds interests in approximately 760,000 ounces of gold (including its attributable share of 3.9 million ounces in the Côté Gold joint venture).
Core Business Areas:
IAMGold focuses primarily on responsible gold mining and development projects. As of 2023, the company operates three active mines: Rosebel in Suriname, Essakane in Burkina Faso, and Westwood in Canada. Additionally, IAMGold holds development-stage properties like the Côté Gold project in Ontario, Canada.
Leadership and Structure:
The company is led by CEO Gordon Stothart and employs over 4,000 people. IAMGold's head office is located in Toronto, Canada.
Top Products and Market Share:
IAMGold predominantly produces and sells gold doré, which is a semi-refined gold product containing other metals like silver. While the company doesn't specifically sell specific products, it contributes to the global gold market. In 2022, global gold production reached approximately 3,600 tonnes, with IAMGold's production representing a small percentage. Compared to industry giants like Newmont Corporation (NEM) and Barrick Gold Corporation (GOLD), IAMGold is considered a mid-tier producer with a global market share of less than 2%.
Market Share:
IAMGold's market share in the US is even smaller. Based on 2022 data, the company produced roughly 1% of the total gold mined in the US, placing it in the lower ranks compared to domestic giants like Nevada Gold Mines (a joint venture between Barrick and Newmont).
Total Addressable Market:
The global gold market is vast, exceeding $10 trillion in value as of 2023. The US market, though smaller than the global market, still represents a significant opportunity for gold producers. IAMGold targets both global and US markets, contributing to the growing demand for gold as an investment asset and industrial material.
Financial Performance:
Revenue and Profitability:
In 2022, IAMGold generated approximately $1.4 billion in revenue. The company has experienced fluctuating profitability in recent years, with net income reaching a high of $655 million in 2020 and dipping to a loss of $179 million in 2021. As of Q3 2023, IAMGold reported a net income of $291 million. Compared to previous years, this indicates a potential recovery in profitability.
Cash Flow and Balance Sheet:
IAMGold manages a relatively healthy cash flow, exceeding $700 million in 2022. However, the company's balance sheet shows a significant debt load of approximately $1.8 billion.
Financial Comparison:
Year-over-year financial performance analysis reveals improvements in key metrics. For example, revenue increased by 6% in 2022 compared to 2021, and net income rose substantially from a loss in 2021 to a profit in 2022. However, the company still grapples with managing its debt burden.
Dividends and Shareholder Returns:
Dividend History:
IAMGold has a history of dividend payments dating back to 2010. In 2022, the company declared dividends totaling $0.10 per share, resulting in a dividend yield of approximately 1.5%. Despite this history, the current dividend payout is suspended due to ongoing debt reduction efforts.
Shareholder Returns:
Despite historical dividend payouts, IAMGold's shareholder returns have been negative in recent years. Over the past five years, total shareholder returns stand at approximately -47%. Notably, this underperformance is mainly due to declining gold prices, impacting the entire gold mining sector.
Growth Trajectory:
Historical Growth:
IAMGold has experienced modest growth in recent years. Between 2018 and 2022, the company's revenue increased by approximately 10%. This growth can be attributed to higher gold production volumes and slightly improved gold prices.
Future Growth Projections:
Future growth prospects for IAMGold are primarily tied to the development of its major project, Côté Gold. Once fully operational, this mine is expected to significantly boost the company's production output. However, the project is currently estimated to commence commercial production in 2024, and its success relies heavily on several factors, including execution and market conditions.
Recent Initiatives:
In addition to Côté Gold, IAMGold is focusing on exploration activities and potential acquisitions to further expand its portfolio. The company is also emphasizing cost reduction measures and operational efficiencies to enhance profitability.
Market Dynamics:
The gold mining industry is characterized by several dynamics:
Current Trends: Increasing demand for gold as a safe-haven asset amidst global economic uncertainties. Supply-Demand Scenario: Potential supply constraints due to rising labor and operating costs. Technological Advancements: Integration of technology for improved efficiency and exploration techniques.
IAMGold's Positioning:
IAMGold is positioned as a mid-tier gold producer with a strong track record and substantial growth potential. The company's focus on responsible mining and its geographically diversified portfolio are considered strengths. However, its relatively high debt load and dependence on the success of the Côté Gold project present significant challenges.
Key Competitors:
- Newmont Corporation (NEM)
- Barrick Gold Corporation (GOLD)
- AngloGold Ashanti (AU)
- Kinross Gold Corporation (KGC)
- Agnico Eagle Mines Limited (AEM)
Compared to these competitors, IAMGold holds a smaller market share but boasts lower production costs. The company needs to balance strategic growth with debt management to solidify its position within the industry.
Potential Challenges and Opportunities:
Key Challenges:
- Fluctuating gold prices impact revenue and profitability.
- Managing the debt burden while pursuing growth initiatives.
- Competition from larger gold producers with substantial resources.
- Addressing environmental and social concerns associated with gold mining.
Potential Opportunities:
- Successful development and operation of Côté Gold, boosting production and revenue.
- Discovery of new gold deposits through exploration activities.
- Strategic acquisitions to expand the portfolio and diversify risk.
- Adopting innovative technologies to enhance efficiency and sustainability.
About IAMGold Corporation
Exchange NYSE | Headquaters Toronto, ON, Canada | ||
IPO Launch date 1996-03-08 | CEO, President & Director Mr. Renaud Adams P.Eng. | ||
Sector Basic Materials | Industry Gold | Full time employees 3700 | Website https://www.iamgold.com |
Full time employees 3700 | Website https://www.iamgold.com |
IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso. IAMGOLD Corporation was incorporated in 1990 and is headquartered in Toronto, Canada.
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