Iamgold rips higher after strong Q3 beat on record Côté production, debt reduction

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Iamgold (IAG [https://seekingalpha.com/symbol/IAG]) +10.4% in Wednesday's trading after easily beating Q3 adjusted earnings [https://seekingalpha.com/news/4515118-iamgold-non-gaap-eps-of-0_30-beats-by-0_08-revenue-of-706_7m-beats-by-28_49m] estimates, driven by record production at its Côté gold mine in Ontario and a continued focus on debt reduction.

Q3 revenues surged 61% Y/Y to $706.7 million from sales of 203,000 gold oz at an average realized price of $3,492/oz, while YTD revenues totaled $1.76 billion with all-in sustaining costs averaging $1 956/oz, and Iamgold (IAM) said it expects to achieve the top end of its yearly cost guidance.

Q3 attributable gold production totaled 190,000 oz, lfting YTD output to 524,000 oz, with the flagship Côté mine producing a record 106,000 oz in the quarter, marking the second consecutive quarter averaging more than 30,000 oz/month, and the Essakane mine in Burkina Faso contributing 92,000 oz.

Q3 free cash flow hit a a record $292.3 million, with Côté contributing $135.6 million in mine-site free cash flow, and the company ended the quarter with $707 million in liquidity and reduced net debt to $813 million, down $202 million Q/Q.

With its balance sheet strengthening, Iamgold's (IAG [https://seekingalpha.com/symbol/IAG]) board approved a stock buyback program for up to 10% of outstanding common shares.

MORE ON IAMGOLD

* Iamgold: Côté Is The Crown Jewel, Essakane The Achilles' Heel [https://seekingalpha.com/article/4820311-iamgold-cote-crown-jewel-essakane-achilles-heel]
* Iamgold: Strong Gold Prices And Coté Gold Transform The Outlook [https://seekingalpha.com/article/4818126-iamgold-strong-gold-prices-and-cot-gold-transform-the-outlook]
* Iamgold Q2 2025 Earnings Call Presentation [https://seekingalpha.com/article/4811449-iamgold-corporation-2025-q2-results-earnings-call-presentation]