IAG
IAMGOLD Corporation
IAG's fundamentals are strong and it looks cheap: trading at 8.7x earnings, below its usual 16x. Analysts expect strong earnings growth, though they disagree widely on how much.
IAG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
IAG's revenue, profitability, cash flow and balance sheet are all currently healthy.
IAG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.2x | $10.20 | -40% |
| Forward | 7.4x | $17.14 | — |
| Current | 8.7x | $17.14 | — |
| Fair | 15x | $30.44 | +78% |
| Expensive | 33x | $65.10 | +280% |
Historical ranges are pointers, not guarantees.
IAG's PE is in its cheap range at 8.7x. If earnings grow as analysts expect, today's price would be 7.4x next year's earnings.
IAG Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for IAG, with profitability improving. However, they disagree widely on these estimates.
IAG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.31 | +17% |
| Q2 2026 | $1.98 | +42% |
| Q1 2026 | $1.73 | +23% |
| Q4 2025 | $1.16 | -20% |
| Q3 2025 | $0.60 | -53% |
| Q2 2025 | $1.39 | +456% |
| Q1 2025 | $1.41 | +404% |
| Q4 2024 | $1.45 | +663% |
| Q3 2024 | $1.28 | +392% |
IAG earned $1.98 per share over the past year, up 42% from the year before.
IAG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $835.1M | +44% |
| Q1 2026 | $1B | +116% |
| Q4 2025 | $1.1B | +135% |
| Q3 2025 | $706.7M | +61% |
| Q2 2025 | $580.9M | +51% |
| Q1 2025 | $477.1M | +41% |
| Q4 2024 | $469.9M | +58% |
| Q3 2024 | $438.9M | +96% |
IAG's revenue has grown year over year for 11 quarters in a row: $835M last quarter, up 44% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 45% | +15 points |
| Q1 2026 | 53% | +29 points |
| Q4 2025 | 52% | +26 points |
| Q3 2025 | 33% | -105 points |
| Q2 2025 | 31% | -2.6 points |
| Q1 2025 | 24% | -2.1 points |
| Q4 2024 | 26% | +27 points |
| Q3 2024 | 138% | +145 points |
IAG's operating margin was 45% last quarter, up 14 points from the same quarter a year ago.
IAG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $309.8M | +5431% |
| Q1 2026 | $460.7M | +4801% |
| Q4 2025 | $603.3M | +$622.1M |
| Q3 2025 | $207M | +491% |
| Q2 2025 | $5.6M | +$19.7M |
| Q1 2025 | $9.4M | +$101.1M |
| Q4 2024 | -$18.8M | +$191.3M |
| Q3 2024 | $35M | +$242.9M |
IAG has burned cash in most quarters: $1.6B over the past year, more than ten times what it generated the year before.
IAG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.9% | -11.2M shares |
| 1 year | +0.4% | +2.1M shares |
| 3 years | +20% | +98.6M shares |
| 5 years | +22% | +106M shares |
| Available history | +25% | +115M shares |
IAG has 583M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $251.1M |
| Q1 2026 | $260M |
| Q4 2025 | $50.9M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
IAG spent $562M buying back its own shares over the past year, after none the year before.
IAG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.0x | Very low |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.6x | Very low |
| Q4 2024 | 0.7x | Very low |
| Q3 2024 | 0.4x | Very low |
IAG's net debt is less than a year of its operating earnings (EBITDA).
IAG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.0 | Neutral |
| Stochastic | 35.4 | Neutral |
IAG's weekly RSI is 48 (neutral) and its Stochastic is 35 (neutral).
IAG PE vs Basic Materials Sector
| Metric | IAG | Sector median | Relative |
|---|---|---|---|
| PE | 8.7x | 19x | 53% below |
| PE % | 26 | 40 | 14 pts below |
IAG is trading at 8.7x earnings, a 53% discount to the Basic Materials sector's median of 19x.
IAG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.8 | 3.9% below |
| 20 week MA | $17.9 | 4% below |
| 50 week MA | $18.1 | 5% below |
| 100 week MA | $13.1 | 31% above |
| 200 week MA | $8.23 | 108% above |
IAG has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 108% above its 200-week average.
IAG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.63 | $3.57 | -1.7% |
| 2021 | $3.57 | $3.14 | -12% |
| 2022 | $3.14 | $2.46 | -22% |
| 2023 | $2.46 | $2.53 | +2.8% |
| 2024 | $2.53 | $5.16 | +104% |
| 2025 | $5.16 | $17.6 | +241% |
| 2026 YTD | $17.6 | $17.1 | -2.7% |
IAG has finished lower in three of the last six years. It's down 2.7% so far in 2026.