Iamgold Corp (NYSE: IAG)

Sector: Basic Materials Industry: Gold CIK: 0001203464
Market Cap 14.62 Bn
P/B 4.10
P/E 42.49
P/S 6.54
ROIC (Qtr) 10.58
Div Yield % 0.00
Rev 1y % (Qtr) 61.02
Total Debt (Qtr) 1.09 Bn
Debt/Equity (Qtr) 0.31

About

Price action

Investment thesis

Bull case

  • Strong operating cash flow of 543.50M provides robust 0.50x coverage of total debt 1.09B, indicating excellent debt servicing capability and financial flexibility.
  • Healthy cash reserves of 314.30M provide 9.58x coverage of short-term debt 32.80M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 5.38B provides 4.93x coverage of total debt 1.09B, indicating robust asset backing and low credit risk.
  • Strong operating cash flow of 543.50M provides 9.24x coverage of SG&A expenses 58.80M, showing efficient operational cost management.
  • Robust tangible asset base of 5.38B provides 19.22x coverage of working capital 279.70M, indicating strong operational backing.

Bear case

  • Operating cash flow of 543.50M barely covers its investment activities of (322.70M), with a coverage ratio of -1.68, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (322.70M) provide weak support for R&D spending of 27.20M, which is -11.86x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating earnings of 660.90M show weak coverage of depreciation charges of 381.30M, with a 1.73 ratio indicating high capital intensity and potential reinvestment needs.
  • High depreciation of 381.30M relative to operating cash flow of 543.50M, which is 0.70x suggests significant maintenance capital requirements affecting free cash flow.
  • Retained earnings of 466.30M provide limited buffer against comprehensive income items of (43.50M), which is -10.72x, indicating elevated exposure to market risks.

Continuing and discontinued operations [axis] Breakdown of Revenue (2024)

Segments [axis] Breakdown of Revenue (2024)

Peer comparison

Companies in the Gold
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 NEM NEWMONT Corp /DE/ 92.44 Bn 45.40 7.57 5.65 Bn
2 B Barrick Mining Corp 76.96 Bn 15.41 4.54 4.70 Bn
3 WPM Wheaton Precious Metals Corp. 61.71 Bn 61.61 33.72 0.01 Bn
4 AEM Agnico Eagle Mines Ltd 47.57 Bn 61.82 12.38 0.34 Bn
5 FNV FRANCO NEVADA Corp 44.75 Bn 48.65 28.94 0.00 Bn
6 KGC Kinross Gold Corp 39.48 Bn 22.44 6.13 1.24 Bn
7 PAAS Pan American Silver Corp 20.12 Bn 31.73 6.18 0.86 Bn
8 AGI Alamos Gold Inc 16.77 Bn 31.14 10.42 0.28 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.90 3.24
EV to Cash from Ops. EV/CFO 28.67 -9.75
EV to Debt EV to Debt 14.28 538.62
EV to EBIT EV/EBIT 23.58 13.99
EV to EBITDA EV/EBITDA 15.15 3.53
EV to Free Cash Flow [EV/FCF] EV/FCF 71.95 9.65
EV to Market Cap EV to Market Cap 1.07 1.17
EV to Revenue EV/Rev 6.97 8.77
Price to Book Value [P/B] P/B 4.10 6.25
Price to Earnings [P/E] P/E 42.49 2.29
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.00 1.56
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 5.23
Dividend per Basic Share Div per Share (Qtr) 0.00 0.17
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 10.03
Interest Coverage Int. cover (Qtr) 5.50 406.36
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 52.59 -97.51
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -43.21 132.70
Dividend Growth (1y) % Div 1y % (Qtr) 0.00 -5.81
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -44.55 515.87
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -8.90 51.77
EBIT Growth (1y) % EBIT 1y % (Qtr) -23.05 678.32
EBT Growth (1y) % EBT 1y % (Qtr) -34.06 143.06
EPS Growth (1y) % EPS 1y % (Qtr) -65.65 225.30
FCF Growth (1y) % FCF 1y % (Qtr) 191.70 181.86
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 58.60 85.33
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.42 0.26
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 0.77 3.07
Current Ratio Curr Ratio (Qtr) 1.68 4.83
Debt to Equity Ratio Debt/Equity (Qtr) 0.31 0.27
Interest Cover Ratio Int Coverage (Qtr) 5.50 406.36
Times Interest Earned Times Interest Earned (Qtr) 5.50 406.36
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 46.60 -19.76
EBIT Margin % EBIT Margin % (Qtr) 29.58 -44.58
EBT Margin % EBT Margin % (Qtr) 24.20 -34.78
Gross Margin % Gross Margin % (Qtr) 33.30 30.79
Net Profit Margin % Net Margin % (Qtr) 15.40 -40.46