IAMGold reports Q1 EPS 10c, consensus 9c

Reports Q1 revenue $477.1M, two estimates $508.04M. Reports Q1 gold production 161K oz. vs. 151K oz. last year. Reports Q1 gold sales 165K oz. vs. 150K oz. last year. “In the first quarter of 2025, IAMGOLD (IAG) achieved important milestones which position the company well for the future,” said Renaud Adams, CEO of IAMGOLD. “During the quarter, attributable production totaled 161,000 ounces from our three mines. The first quarter was expected to be the lightest quarter of production this year, due to the ramp-up and associated maintenance activities at Cote limiting throughput early in the quarter, and the expectations of an increasing grade profile at Essakane. At Westwood, production decreased from the prior quarter but is expected to resume its recent track record of strong performance as stope development continues to improve flexibility in the mine. Looking ahead, we remain confident in our production guidance estimates for the year of 735,000 to 820,000 ounces. Cote achieved a record throughput in March totaling nearly one million tonnes, which represents a monthly average throughput rate of 90%. Further, this performance continued into this quarter with the plant averaging 34,500 tpd or 96% of nameplate over the last 30 days. These achievements represent a significant improvement in stability and availability of the Cote plant, and we expect further improvement with the installation of the second cone crusher later in the year. This additional secondary crusher is expected to improve the reliability of our comminution circuit in support of the target to achieve nameplate throughput of 36,000 tpd prior to the end of the year and debottleneck the dry side of the plant offering the potential for further optimizations and improvements in the near future.”