Iamgold Corporation: Hope Is In Short Supply


  • The company recorded $334.0 million in revenues and posted a loss per share of $0.02 with a net loss of $9.6 million.
  • IAMGOLD produced 170K Au oz during the second quarter of 2022, compared to 139K Au oz during 2Q21 on continued strong performance from Essakane and Rosebel.
  • I recommend buying IAG between $1.34 and $1.30 with potential lower support at $1.25.
  • Looking for a helping hand in the market? Members of The Gold And Oil Corner get exclusive ideas and guidance to navigate any climate. Learn More »

A lump of gold on a stone floor



Canada-based IAMGOLD Corporation (NYSE:IAG) reported the second quarter of 2022 on August 3, 2022.

Note: I have followed IAG quarterly since 2014 with 49 articles and counting. This new article is a quarterly update of my article


IAG 2Q22 highlight (Iamgold Presentation)

1.2 - Côté project discussion

The company currently estimates that its share of the remaining Côté project CapEx to completion as of July 1, 2022, is approximately $1,200 to $1,300 million. Inflationary pressure is now biting.

Data by YCharts


IAG Quarterly Production 1Q22 versus 2Q22 per mine (Fun Trading)

IAMGOLD's liquidity is still sufficient, and it carries no net debt. But, with the Côté Gold construction project, the debt situation may change.


IAG Quarterly Revenues history (Fun Trading)

For the second quarter ended June 30, 2022, quarterly revenues came in at a record $334.0 million, up 25.8% from the same quarter last year. Net cash from operating activities for the second quarter of 2022 was $81.9 million, a decrease of $60.4 million from the prior quarter.

The net earnings and adjusted earnings per share attributable to equity holders were minus $0.02 and $0.01. Also, EBITDA was $100.1 million, and adjusted EBITDA was $110.0 million.


IAG Quarterly Free cash flow history (Fun Trading)

Note: Generic free cash flow is the cash from operations minus CapEx.


IAG Quarterly attributable Production history (Fun Trading)


IAG Quarterly Production per mine in 2Q22 (Fun Trading)

Cash cost per ounce sold in the second quarter was $1,130.


IAG Quarterly AISC and Gold price history (Fun Trading)


IAG 2022 Guidance (IAMGOLD Corp)


IAG Quarterly Cash versus Debt history (Fun Trading)

IAMGOLD has a net debt of $159.1 million and total liquidity of approximately $807 million as of June 30, 2022. Total cash is now $452.9 million.


IAG Liquidity (IAMGOLD Corp)


IAG TA chart short-term (Fin Trading)

Join my "Gold and Oil Corner" today, and discuss ideas and strategies freely in my private chat room. Click here to subscribe now.

You will have access to 57+ stocks at your fingertips with my exclusive Fun Trading's stock tracker. Do not be alone and enjoy an honest exchange with a veteran trader with more than thirty years of experience.

"It's not only moving that creates new starting points. Sometimes all it takes is a subtle shift in perspective," Kristin Armstrong.

Fun Trading has been writing since 2014, and you will have total access to his 1,988 articles and counting.

This article was written by

Fun Trading profile picture
As an experienced investor, I will help you stay on task more efficiently.

I am a former test & measurement doctor engineer (geodetic metrology). I was interested in quantum metrology for a while.

I live mostly in Sweden with my loving wife.

I have also managed an old and broad private family Portfolio successfully -- now officially retired but still active -- and trade personally a medium-size portfolio for over 40 years.

“Logic will get you from A to B. Imagination will take you everywhere.” Einstein.

Note: I am not a financial advisor. All articles are my honest opinion. It is your responsibility to conduct your own due diligence before investing or trading.

Disclosure: I/we have a beneficial long position in the shares of IAG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I mostly trade short-term IAG.

Recommended For You

Comments (35)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.