Tuesday, August 26, 2025

IAMGOLD: Analysts Lower Price Targets Following Q4 Prelim Results

Yesterday,  IAMGOLD Corp (TSX: IMG) released their preliminary operating results for the fourth quarter and year-end, while also providing guidance for 2021. Gold production came in at 653,000 ounces, while gold sales of 646,000 ounces were filed for the year. Total costs are expected to be between $980 – $1,010 per ounce, and all-in sustaining costs are between $1,240 – $1,270.

For 2021, IAMGOLD expects total production to be between 630,000 – 700,000 with an all-in sustaining cost between $1,230 – $1,280 per ounce.

IAMGOLD currently has ten analysts covering the company with a weighted 12-month price target of C$6.52. This is down from the average before the results, which was C$6.90. One analyst has a strong buy, while two analysts have buy ratings. The majority, six analysts, have hold ratings, and one analyst has a sell rating.

Following the results, a number of analysts cut their price targets, including:

  • Credit Suisse cuts target price to $4 from $4.25
  • Scotiabank cuts target price to $4 from $4.25
  • BMO cuts target price to $4.20 from $4.40

BMO Capital Markets metals and mining analyst Jackie Przybylowski calls these results and guidance a small negative, writing “Production and Guidance Modestly Disappointing, Growth Options Intact.”

Fourth quarter numbers came short of the consensus expectations across all of IAMGOLD’s producing mines. Also, 2021 guidance was below what BMO was forecasting. Jackie comments, “On the positive, all-in sustaining costs are consistent with expectations. The company continues to move forward with growth projects, including spending on both Côté and Boto as well as exploration across both greenfield and brownfield targets.”

IAMGOLD’s 169,000 ounces of gold production was below BMO’s 170,000 forecast. Przybylowski says that this miss was primarily due to underperformance at Essakane and Rosebel, while Westwood performed slightly better than expected.

Onto the 2021 guidance, BMO’s production estimate is 713,000 ounces while the consensus was 807,000 ounces. The underperformance is expected to primarily be from shortfalls at Essakane, Rosebel, and Westwood.

Przybylowski is optimistic on the news that 2021 guidance includes production at Westwood, as the company had previously withdrawn its targets due to a November 4th seismic event. She writes, “We note that the guidance is now significantly lower than output previously envisioned (45-65koz, from 100-120koz in January 2020). We assume that operations continue to be affected in H1/21; production is weighted to H2.”

Below you can see the key changes in BMO’s estimates for IAMGOLD’s 2020/2021 results.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

Related News

Curaleaf: The Analyst Take On The European Expansion

On April 7th, Curaleaf Holdings (CSE: CURA) announced that they completed $312 million acquisition of...

Friday, April 9, 2021, 11:46:00 AM

Falcon Gold Conducts Financing At Premium To Market Price

Falcon Gold (TSXV: FG) this afternoon announced that it will be conducting a financing for...

Tuesday, May 12, 2020, 02:28:06 PM

Cresco Labs: Analysts Raise Targets Following Blowout Quarter

On November 18th, Cresco Labs (CSE: CL) reported their third quarter financial results. The company...

Friday, November 20, 2020, 12:09:00 PM

Goldpoccalypse Now! Does The Dow Theory Confirm A Bearish Move?

Oil up the munitions press and stock up on canned goods, kids, because this is...

Wednesday, February 26, 2020, 09:30:11 AM

Canaccord Drops Medmen Price Target To $0.00, Reiterates Sell Rating

After Medmen Enterprises’ (CSE: MMEN) fourth-quarter results dropped after hours on October 15th, Canaccord downgraded...

Friday, October 16, 2020, 12:22:53 PM