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IAG

Why Iamgold Stock Jumped This Week

May 09, 2026 — 09:40 pm EDT

Written by

Joe Tenebruso for

The Motley Fool->

Key Points

- Iamgold is expanding production at its major mining sites.

- The gold producer is positioned to profit handsomely from further price gains.

- 10 stocks we like better than Iamgold ›

Shares of Iamgold (NYSE: IAG) climbed more than 12% this past week after the miner reported soaring free cash flow fueled by higher gold prices.

Image source: Getty Images.

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Pulling more gold from the ground

Iamgold produced 183,600 ounces in the first quarter, up from 161,000 in the prior-year period.

The mining stock's Westwood site performed particularly well. Higher grades and improved operating efficiency drove its gold production up by 51% to 36,200 ounces.

It's a golden time to be a gold miner

Iamgold's growing production was made even more valuable by sharply higher gold prices. The company's average realized gold price soared 78% to $4,859 per ounce. Central banks have been accumulating the precious metal to diversify their currency reserves.

In all, Iamgold's revenue rocketed 116% higher to $1 billion. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased an even more impressive 226% to $666 million.

Iamgold also generated $525 million in mine-site free cash flow, which enabled it to pay down debt and reward shareowners with $260 million in stock buybacks.

On track to achieve its 2026 targets

Iamgold reaffirmed its full-year production forecast of 720,000 to 820,000 ounces. Management also noted that technical reports due later this year are expected to show significant potential for production growth and mine-life extension at several of its sites.

Gold prices could also receive a boost if central banks move to reduce interest rates. The Federal Reserve is widely expected to cut rates after the current conflict in the Middle East is resolved.

"We are well-positioned to deliver value for our shareholders in 2026 and beyond," CEO Renaud Adams said.

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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.