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Where Investors Stand on IAMGOLD’s Transformation

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Where Investors Stand on IAMGOLD’s Transformation PART 1 OF 7

IAMGOLD Beat 3Q17 Estimates—But Can the Stock Momentum Continue?

IAG’s 3Q17 earnings

IAMGOLD (IAG) reported its 3Q17 results after the market closed on November 7, 2017. The conference call to discuss the results with analysts took place the next day.

IAG reported EPS (earnings per share) of $0.07, beating the consensus estimate by $0.06. Its revenues, however, missed the estimate by $4.1 million at $268.8 million.

IAMGOLD Beat 3Q17 Estimates—But Can the Stock Momentum Continue?

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Outperformance year-to-date

IAG stock has significantly outperformed its peers YTD (year-to-date). The stock has gained ~50% YTD as of November 7, 2017. By comparison, the VanEck Vectors Gold Miners ETF(GDX) has returned 8.7%. Agnico Eagle Mines (AEM) has gained 7.2% in the same time period, while Yamana Gold (AUY), New Gold (NGD), and Eldorado Gold (EGO) have lost 5%, 3%, and 62%, respectively.

IAG has witnessed a transformation of sorts in 2017. It reported an 80% rise in reserves at Rosebel in July 2017. In September, the company announced a significant gold discovery at its Saramacca site in Suriname, and it has been reporting solid operational performance.

IAG continued the gaining streak after its 3Q17 results were announced. The stock rose ~7% on November 8, 2017, buoyed by the strong operational results and upbeat management commentary.

Series overview

During the 3Q17 earnings call, the management noted several catalysts that could lead to a further upside for the stock. In this series, we’ll discuss each of the company’s mine performances. We’ll also look at its valuation multiple and any catalysts that could lead to its rerating.

In the next part (below), we’ll examine more highlights from IAMGOLD’s 3Q17 earnings.

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