Iamgold: 20 Million Ounces At Côté, And Still Cheap

The Supercycle Investor 15.91K Followers Follow Summary IAMGOLD remains a Buy, trading at ~8x forward earnings with a clean balance sheet and a tier-one Canadian mine at nameplate capacity. The Côté and Gosselin zones are now combined into a single 20+ million ounce deposit, with a Q4 technical report as a major upcoming catalyst. IAG’s valuation remains deeply discounted, with EV/EBITDA and price-to-cash-flow multiples 40% below sector medians despite $2.2 billion in trailing adjusted EBITDA. Management is prioritizing disciplined, phased expansion at Côté, focusing on low-cost, high-return debottlenecking before committing to larger capital outlays. matejmo/iStock via Getty Images IAMGOLD Update On March 18, I called IAMGOLD ( IAG ) a Buy when it traded at 6x forward earnings, arguing that a Canada-focused producer with a brand new tier-one mine shouldn't trade like a distressed This article was written by The Supercycle Investor 15.91K Followers Follow The Supercycle Investor (formerly Gold Mining Bull) is a commodities analyst with more than a decade of investing experience across the natural resource sector. Coverage spans gold and silver miners, copper, oil and gas producers, natural gas, lithium, uranium, MLPs, and royalty and streaming companies... all tied to the structural commodity supercycle driven by the AI buildout, electrification, and years of underinvestment in supply. Every piece is built on data-driven valuation analysis with balanced coverage, weighing both the upside and risks. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.