IAMGOLD Reports Second Quarter Adjusted EBITDA of $507.3 Million
The gold producer returned nearly $150 million to shareholders through share buybacks during the quarter.
IAMGOLD Corporation (IAG), an intermediate gold producer and developer, reported attributable gold production of 188,100 ounces for the second quarter ended June 30, 2026. The company generated $507.3 million in adjusted EBITDA and $856.9 million in revenue from the sale of 195,100 ounces at an average realized price of $4,384 per ounce.
Net earnings attributable to equity holders for the quarter were $230.5 million, or 0.40 a share. The company reported a mine-site free cash flow of $368.9 million for the period. All-in sustaining costs per ounce sold were $2,271, compared to a year-to-date average of $2,195.
Operational performance was led by the Essakane mine, which produced 88,400 attributable ounces in the second quarter. The Côté Gold mine produced 67,300 attributable ounces. The company said Côté operated at near full capacity in June following the commissioning of a second cone crusher and the replacement of a conveyor belt in May.
IAMGOLD expects production at Côté to increase and unit costs to decline through the second half of the year. The company is evaluating a path to increase processing rates toward 40,000 tonnes per day through targeted debottlenecking. This follows the consolidation of Côté and Gosselin Mineral Resources, which now exceed 20 million ounces of Measured and Indicated resources.
Liquidity stood at $1,348.1 million as of June 30, 2026, comprising $501.4 million in cash and cash equivalents and $845.7 million in the available balance of its revolving credit facility. The company reported a net cash position of $52.2 million, excluding leases and letters of credit.
Corporate activity focused on capital returns and debt reduction. The company purchased 8.6 million shares for $147.9 million as part of its buyback program and repaid the remaining $100 million balance of its Credit Facility. Since the program's inception in December 2025, IAMGOLD has purchased 27.9 million shares for $510.4 million.
Cash flows were further supported by the repatriation of funds from Essakane. In June 2026, the company completed the repatriation of $680.7 million, representing its portion of a dividend declared in 2025. Essakane also declared a 2026 dividend of approximately $500 million from 2025 profits, with the company's portion net of taxes and government shares totaling approximately $400 million.
IAMGOLD remains on track to achieve its full-year 2026 production guidance of 720,000 to 820,000 ounces. The company expects to release an updated technical report in the fourth quarter.