IAMGOLD Corporation (TSX: IMG) reported today its financial results for Q1 2021, highlighting revenue of US$297.4 million. This is a 14.4% decrease from Q4 2020 revenue of US$347.5 million, but an 8.3% increase from Q1 2020 revenue of US$274.5 million.
Q1 2021 saw US$19.5 million in net earnings, down from the previous quarter’s US$59.0 million figure reported and an improvement from last year’s net loss of US$34.4 million. This translates to net earnings per share of US$0.04, which is a drop from the previous quarter’s US$0.12 per share.
For the quarter, IAMGOLD also reported that it has produced 156,000 ounces of gold from its sites on an attributable basis and has sold 153,000 ounces at an average realized gold price of US$1,781 per ounce, resulting in a gold margin of US$729 per ounce. The company has set its 2021 production guidance at 630,000 – 700,000 ounces.
The company ended the quarter with US$967.8 million in cash, cash equivalents, and short-term investments, an increase from last quarter’s US$947.5 million and last year’s US$802.2 million.
You may see the full details of IAMGOLD’s Q1 2021 financial results here.
IAMGOLD Corporation last traded at $4.07 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. 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.
