IAMGOLD reports first quarter revenues exceeding $1 billion
The gold producer returned $260 million to shareholders through share buybacks during the first quarter of 2026
IAMGOLD Corporation (IAG), an intermediate gold producer and developer, reported first quarter 2026 revenues of $1,030.1 million, compared to $477.1 million in the same period last year. The company said the results reflected significant leverage to the current gold price environment.
Adjusted EBITDA rose to $666.3 million from $204.5 million in the first quarter of 2025. Net earnings attributable to equity holders were $379.7 million, up from $39.7 million in the prior-year period. The company reported adjusted net earnings per share of 0.67 USD, compared to 0.10 USD a share in the first quarter of 2025.
Mine-site free cash flow reached $524.6 million, an increase from $139.6 million in the first quarter of 2025. IAMGOLD used this liquidity to repay $100 million in debt and execute $260 million in share buybacks. As of March 31, 2026, the company held $550.2 million in cash and cash equivalents and had an available credit facility of $545.7 million.
Attributable gold production for the quarter was 183,600 ounces. The company noted that Westwood and Essakane both saw year-over-year production improvements due to higher grades and improved operating efficiency. At Côté Gold, throughput was limited by unplanned conveyor downtime caused by wear and splits on the belt resulting from increased crushed ore volumes.
IAMGOLD said performance at Côté Gold improved in April following repairs, and a belt replacement in May is expected to allow operations at full capacity. The company maintains its full-year attributable production guidance for Côté Gold at 270,000 to 310,000 ounces. Total full-year guidance for the company is set between 720,000 and 820,000 ounces.
The company plans to release an updated mineral resource estimate for Côté in the second quarter, with a technical report expected by year-end to outline a larger-scale mine incorporating the Côté and Gosselin zones. Technical reports are also planned for Essakane, Westwood, and the Nelligan Mining Complex to illustrate potential for mine life extension and production growth.