Highlights

  • IAMGOLD achieved 765,900 ounces of gold production in 2025, meeting mid-point guidance.
  • Q4 revenues reached USD 1,088.1M with adjusted EBITDA of USD 710.1M.
  • Share price fell 3.79% to CAD 28.40 on February 17, 2026, reflecting market reaction.

IAMGOLD Corporation (TSX:IMG) released its financial and operating results for the fourth quarter and full year ended December 31, 2025. Attributable gold production reached 242,400 ounces in Q4 and 765,900 ounces for the year, hitting the mid-point of the company’s guidance of 735,000–820,000 ounces. Key operations delivered mixed results, with Côté Gold achieving record production at the top end of its guidance, Westwood slightly below target, and Essakane exceeding the mid-point of its guidance range.

Gold Production Reaches Guidance Targets
IAMGOLD Corporation reported attributable gold production of 242,400 ounces for Q4 and 765,900 ounces for the full year 2025, hitting the mid-point of guidance (735,000–820,000 ounces). Côté Gold produced a record 87,200 ounces in Q4 (124,600 ounces | 100%) and 279,900 ounces for the year, achieving the top end of its guidance range.

Westwood delivered 37,900 ounces in Q4 and 113,900 ounces for the year, slightly below its guidance of 125,000–140,000 ounces. Essakane achieved 117,300 ounces in Q4 (138,100 ounces | 100%) and 372,100 ounces for the full year, surpassing mid-point guidance.

Revenue, Costs, and Profitability
Revenue for Q4 totaled USD 1,088.1M from sales of 259,000 ounces at an average realized gold price of USD 4,191/oz. Annual revenue was USD 2,852.8M from 817,800 ounces sold at USD 3,482/oz (USD 3,549/oz excluding 2024 gold prepay adjustments).

Cost of sales per ounce was USD 1,374 in Q4 and USD 1,489 for the year. Cash costs excluding royalties were USD 1,031 for Q4 and USD 1,230 for the year. Including royalties, cash costs reached USD 1,367 in Q4 and USD 1,484 annually. AISC per ounce was USD 1,750 in Q4 and USD 1,900 for 2025, aligning with guidance ranges.

Net earnings for Q4 were USD 406.6M, with adjusted net earnings of USD 405.8M. Full-year net earnings were USD 664.4M, and adjusted net earnings totaled USD 709.2M. Net earnings per share were USD 0.70 for Q4 and USD 1.16 for 2025; adjusted EPS were USD 0.70 and USD 1.23, respectively.

Cash Flow and Balance Sheet
Q4 net cash from operations totaled USD 701.7M, while annual net cash flow was USD 1,142.6M. Record mine-site free cash flow reached USD 626.6M in Q4 and USD 1,199.0M for the year, including USD 197.0M attributable to Côté. Liquidity stood at USD 868.6M, including USD 421.9M in cash and USD 445.7M available from the revolving credit facility. Net debt decreased by USD 514.9M to USD 344.4M.

2026 Outlook
IAMGOLD expects total gold production in 2026 between 720,000–820,000 ounces. Cash costs excluding royalties are projected at USD 1,100–1,250 per ounce, with royalties adding roughly USD 325/oz based on an assumed gold price of USD 4,000/oz. Total cash costs including royalties are expected at USD 1,425–1,575 per ounce.

Mineral Reserves and Resources
As of December 31, 2025, proven and probable (P&P) mineral reserves totaled 9.9M ounces (7.5M ounces attributable). Measured and indicated (M&I) resources increased 16% to 31.0M ounces (24.6M ounces attributable), mainly due to conversions at Gosselin (Côté Gold), Nelligan, and additions from Northern Superior acquisitions.

Share Performance
Shares of IAMGOLD closed at CAD 28.40 on February 17, down 3.79%, as markets reacted to year-end results and outlooks.

IAMGOLD concluded 2025 with production meeting mid-point guidance, solid cash flows, and reductions in net debt. Market response caused a 3.79% drop in the share price, while 2026 guidance anticipates steady production and controlled cash costs. Key metrics, including reserves growth and operational efficiencies, remain under observation by investors.

FAQs

Q1. What is IAMGOLD’s 2026 production guidance?
IAMGOLD expects total attributable gold production between 720,000–820,000 ounces.

Q2. What are projected cash costs for 2026?
Cash costs excluding royalties are USD 1,100–1,250/oz; including royalties, USD 1,425–1,575/oz.

Q3. How has IAMGOLD’s net debt changed?
Net debt decreased by USD 514.9M in 2025, ending the year at USD 344.4M.