IAMGOLD Q3 2026: Gold at $4,277 an Ounce Drives a Strong Beat

IAMGOLD reported adjusted earnings of $0.42 per share for the third quarter of 2026, topping the consensus estimate of $0.39 by about 6.6%. Revenue came in at $856.5 million, beating expectations by 2.4% and rising 21.2% from a year earlier, as a surging gold price more than made up for softer sales volumes.

The key driver was a realized gold price of $4,277 per ounce, up $785 year over year. That tailwind pushed mine-site free cash flow to $404.3 million across IAMGOLD's three operating assets. Essakane in Burkina Faso was the standout contributor at $271.1 million, with Côté Gold adding $81.5 million and Westwood $51.7 million. Adjusted EBITDA climbed to $503.9 million from $359.5 million in the same quarter a year ago.

On a GAAP basis, diluted earnings reached $0.52 per share, above the adjusted figure, partly because of a $69.5 million gain on the sale of IAMGOLD's interest in the Bambadji joint venture. The quarter also saw finance costs fall sharply, to $4.3 million from $28.9 million, following debt repayment that reduced the company's interest burden considerably.

Management reaffirmed full-year production guidance of 720,000 to 820,000 ounces, with Côté Gold now expected to come in toward the low end of its 270,000 to 310,000 attributable ounce range after an extended shutdown and equipment downtime during the quarter. An updated Côté mine plan incorporating the Gosselin deposit is due in the fourth quarter of 2026, and an inaugural technical report for the Nelligan complex is targeted for mid-2027.

Perhaps the most notable forward-looking signal is management's disclosure that it is contemplating initiating a dividend in 2027. The company has been directing cash toward buybacks under a TSX-approved program, repurchasing 7.6 million shares for $134.7 million in the third quarter alone at an average price of $17.58 per share. A shift toward a dividend would mark a meaningful change in how IAMGOLD returns capital to shareholders.