IAMGOLD Continues To See Quarterly Results Slide, Reporting Q2 Revenues Of $265.5 Million

IAMGOLD Corp (TSX: IMG) last night reported its second quarter 2021 financial results, posting revenues of US$265.5 million for the period, a decline on a quarter over quarter basis. The company also reported a net loss of $4.5 million for the period.

Revenues were down on a quarter over quarter basis from $297.4 million, with the weaker results blamed on adverse rain conditions at the firms Rosebel mine, and climbing COVID-19 cases in Suriname. Gross profit for the quarter amounted to $27.9 million, down from $44.2 million in the prior period.

Gold production also declined on a quarterly basis, with the second quarter recording 139,000 ounces of production, as previously guided, compared to the 156,000 ounces produced in Q1. Gold sales meanwhile amounted to 135,000 ounces, at an average realized gold price of $1,800 per ounce. Mine site free cash flow amounted to $1.9 million as a result, down from $89.5 million in the prior period.

Overall, the company posted EBITDA and adjusted EBITDA figures of $87.0 million and $84.8 million, respectively, while posting a net loss of $4.5 million, or $0.01 per share.

The firm also reported a cash, cash equivalents, and short term investment figure of $829.8 million as of the end of the quarter.

IAMGOLD last traded at $3.34 on the TSX.


Information for this briefing was found via Sedar and IAMGOLD. 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

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Canaccord: IAMGOLD Has “Few Desirable Options To Plug Funding Gap”

On May 3, IAMGOLD Corporation (TSX: IMG) reported its first quarter results for 2022. The...

Thursday, May 5, 2022, 02:24:00 PM

IAMGOLD Closes $360 Million Sale Of Rosebel As It Works To Fund Cote Project

IAMGOLD (TSX: IMG) officially has one less asset under its belt. The firm has formally...

Wednesday, February 1, 2023, 09:30:03 AM

IAMGOLD Extends Westwood Complex Life Of Mine To 2032

IAMGOLD (TSX: IMG) has extended the life of its Westwood mine complex after the completion...

Thursday, December 5, 2024, 09:01:27 AM

IAMGOLD Posts Seven-Fold Increase In Earnings In 2024, Thanks To Westwood And Gold Prices

IAMGOLD Corporation (TSX: IMG) reported its fourth quarter and full-year 2024 results, headlined by a...

Friday, February 21, 2025, 09:28:00 AM

Money Again Flows In Mining Sector As Multiple Producers Close On Financings

Money appears to be flowing in the mining sector again, with two large producers announcing...

Friday, May 24, 2024, 08:53:03 AM