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Sep 30, 2025
Iamgold Q3 2025 Earnings Report
IAMGOLD reported its financial and operating results for the third quarter of 2025, highlighting record production at Côté Gold and significant debt reduction.
Key Takeaways
IAMGOLD delivered a strong third quarter in 2025, driven by record gold production at its Côté Gold Mine and an increase in average realized gold prices. The company significantly strengthened its financial position through substantial debt repayments and announced a share buyback program, while continuing to advance strategic growth initiatives and maintain a focus on operational excellence and safety.
Attributable gold production reached 190,000 ounces in Q3 2025, with Côté Gold contributing a record 106,000 ounces (100% basis).
Revenues increased by 61% to $706.7 million, primarily due to a higher average realized gold price of $3,492 per ounce.
Net earnings attributable to equity holders were $139.4 million, with adjusted net earnings at $170.9 million.
The company repaid $100 million of its second lien notes in Q3, with an additional $170 million subsequent to quarter-end, reducing the outstanding balance to $130 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
IAMGOLD expects to achieve its full-year attributable production guidance, with higher production anticipated in Q4 from Essakane and Westwood. Cash costs and AISC are projected to be at the top end of their guidance ranges due to higher royalties and lower production at Westwood. The company plans to complete debt repayments and implement a share buyback program.
Positive Outlook
- On track to achieve full-year attributable production guidance.
- Côté Gold's Q4 attributable production expected to be in line with Q3, with Essakane and Westwood expected to be higher.
- Installation of an additional secondary cone crusher at Côté Gold in Q4 will provide further capacity and redundancy.
- Share buyback program for up to 10% of outstanding common shares approved, reflecting confidence in long-term value.
- Acquisition of Northern Superior Resources Inc. and Mines d'Or Orbec Inc. to consolidate the Chibougamau region, creating the Nelligan Complex.
Challenges Ahead
- Cash costs and AISC per ounce sold for the full year are expected at the top end of guidance ranges.
- Higher royalties at Côté and Essakane due to increased realized gold prices.
Historical Earnings Impact
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