Shares of the IAMGOLD Corporation (IAG) stock were declining in the current market trading session today on January 12, 2022. IAG stock price saw a decline of 4.58% to drop at $2.82 a share at the time of this writing. The trading volume on the last check was 1,982,052, lower than the average trading volume. Let’s deep dive to understand the reason behind this rise.
Fourth Quarter and Full-Year Operational Results of IAG
- IAG stock became bearish after the company announced the fourth quarter and full-year 2021 operational results and provided a 2022 operational outlook. Gold production in the year 2021 was 601,000 ounces of the company. In the fourth quarter, the company produced 153,000 ounces of gold.
- The company reported $1.2 billion approximate revenue based on 590,000 ounces of gold sales. In the fourth quarter of 2021, revenues reached $295 million based on 152,000 ounces of gold sales.
- The company produced 412,000 ounces of gold in 2021. This means that the gold production exceeded the upper limit of the previously guided range of 390,000 to 400,000 ounces
- For Rosebel, the annual gold production was 154,000 ounces, near to the upper guidance range of 160,000 ounces. The attributable production in the fourth quarter was 42,000 ounces for the IAG stock.
- For Westwood, the gold production was 35,000 ounces, equal to the lower guidance of 35,000 In the fourth quarter of 2021, the guidance range was 35,000.
2022 Outlook of IAG stock
- IAG expects that the gold production for 2022 will be in the range of 570,000 to 640,000 ounces.
- The company estimated the cash costs between $1,100 and $1,150 per ounce sold for the year 2022.
Financial Expectations
IAMGOLD Corporation expects consolidated cash costs in the range of $1,115 and $1,150 per ounce sold in 2021. consolidated AISC will be between $1,395 and $1,435 per ounce sold. The company is optimistic that its capital expenses will be in line with the expectations of the company. The company ended the fourth quarter and year 2021 with $545 million in cash and cash equivalents. The company had restricted cash of $42 million and short-term investments of $8 million by the end of the year 2021.
Wrap Up
It seems that investors did not like the operational results for the fourth quarter and full-year 2021 of the IAG stock. Investors eyeing this stock need to do deep research before making any decision.
