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Iamgold Corp. IAG posted adjusted earnings of 10 cents per share in the fourth quarter of 2024, missing the Zacks Consensus Estimate of 13 cents. The company reported earnings of 6 cents in the year-ago quarter.
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Including one-time items, IAG reported earnings of 15 cents per share against the prior-year quarter’s loss per share of 2 cents.
Revenues increased 57.9% year over year to $470 million in the fourth quarter of 2024. The upside was driven by higher sales volume and prices.
Iamgold Corporation Price, Consensus and EPS Surprise
Iamgold Corporation price-consensus-eps-surprise-chart | Iamgold Corporation Quote
IAG’s Q4 Gross Margin Soars Y/Y on Higher Production
Attributable gold production was 177,000 ounces for the quarter, up 30.1% year over year. The company sold 177,000 ounces of gold (on an attributable basis) in the fourth quarter compared with 136,000 ounces in the fourth quarter of 2023.
The cost of sales was $339 million in the reported quarter, up 36.8%. The gross profit skyrockets 162.9% year over year to $130.9 million. The gross margin came in at 27.9% in the reported quarter, up from the prior-year quarter’s 16.7%.
Iamgold’s Cash Flow & Balance Sheet
Net cash from operating activities was $103 million in the fourth quarter of 2024, up from $69.9 million in the prior-year quarter. Cash and cash equivalents were $347.5 million as of Dec 31, 2024, down from $367 million as of Dec 31, 2023.
IAG’s 2024 Performance
IAG posted adjusted earnings of 55 cents per share in 2024, missing the Zacks Consensus Estimate of 57 cents. The company reported earnings of 9 cents in 2023.
Including one-time items, Iamgold reported earnings of $1.52 per share compared with 2023’s earnings per share of 18 cents.
Revenues increased 65.4% year over year to record $1.63 billion in 2024. The figure beat the Zacks Consensus Estimate of $1.62 billion.
Iamgold’s Stock Price Performance
The company’s shares have soared 111% in a year compared with the industry’s growth of 56.8%.
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IAG’s Zacks Rank
Iamgold currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Iamgold’s Peer Performances in Q4
Royal Gold, Inc. RGLD reported adjusted earnings per share of $1.63 in the fourth quarter of 2024, beating the Zacks Consensus Estimate of $1.49. The bottom line increased 72% year over year.
RGLD generated revenues of $203 million, up 32.7% year over year. The upside was driven by advanced average metal prices, increased gold sales from Rainy River and Wassa, and higher gold sales from the Peñasquito mine. However, the gains were partially offset by a year-over-year decline in gold production from Cortez.
Barrick Gold Corporation GOLD recorded adjusted earnings per share of 46 cents. The figure beat the Zacks Consensus Estimate of 41 cents. The company recorded net earnings (on a reported basis) of $996 million or 57 cents per share for fourth-quarter 2024. The figure improved from a profit of $479 million or 27 cents per share in the year-ago quarter.
Barrick’s total revenues were $3.64 billion, up 19.2% year over year.
Kinross Gold Corporation KGC posted adjusted earnings of 20 cents per share, up from the prior-year quarter’s 11 cents. The bottom line missed the Zacks Consensus Estimate of 23 cents.
KGC’s revenues rose 26.9% year over year to $1.42 billion in the fourth quarter. It topped the Zacks Consensus Estimate of $1.11 billion.