IAMGold Corporation (IAG) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of IAMGold Corporation stock $21.64, price $17.50, upside +23.7%, quality 64 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $0.9760 – $24.57 · fair‑value band $14.09 – $28.13 · the $17.50 price screens below the $21.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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IAMGOLD Corporation, through its subsidiaries, operates as a gold producer and developer in Canada and Burkina Faso. The company's flagship project includes Côté Gold that covers an area of 596 hectares located in the Chester and Yeo Townships, district of sudbury, in northeastern Ontario.
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IAMGOLD Corporation was incorporated in 1990 and is headquartered in Toronto, Canada.
Stock analysis
IAMGold Corporation (IAG) currently trades at $17.50, while our model-based Fair Value estimate is $21.64, implying the stock looks roughly 19% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $23.76 per share, and 12 of the 24 models we run sit above the $17.50 price.
Bear case: the Asset-Based group reads lowest at $4.89, and 12 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $14.09 (bear) to $28.13 (bull), the price of $17.50 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
IAMGold Corporation reported revenue of $2.9B in FY2025 versus $876M in FY2021, a compound +34.9%/yr. Reported net income was $676M in FY2025.
Key figures
Market cap $10.2B Large · P/E ratio 8.8 · P/S ratio 2.77 · EPS (TTM) $1.98 · Net margin 31.4% · Return on equity 32.3% · Return on assets (EBIT) 6.8% · Operating margin 45.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 84 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 47% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −11% fair-value upside, at 24%, IAG screens cheaper than that median.
Fair Value models
Bear$14.09Fair Value $21.64Bull$28.13
Price $17.50 · Upside +23.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.68 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+77.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+44.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.5%
Start year 2020 (pandemic). Over 10 years: +12.2% a year
Revenue growth 29 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+44.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+39.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+39.8%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 67.1% / 25.1%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12% → 39%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+13.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +5.2% a year for the price and +10.6% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Limited pricing power set by market gold prices forms the main weakness while stable financial metrics offer no clear durable edge.
Main risk: Changes in laws, enforcement, land access or community relations in Burkina Faso could raise operating costs, disrupt production or hinder cash repatriation from the Essakane mine that supplies a large share of the company's cash flow.
Bull case: Successful navigation of local relations and regulatory stability in Burkina Faso combined with higher output from Canadian assets could sustain cash generation and support further deleveraging.
Bear case: Escalating jurisdictional pressures or operational disruptions at Essakane could materially reduce cash flows and constrain the company's ability to fund operations or meet obligations across its portfolio.
IAMGold is shifting from heavy construction spending at Côté Gold toward higher output and lower costs across its Canadian and West African mines. Essakane continues to supply the cash flow that supports deleveraging and potential returns while the Canadian assets strengthen. Will the improving production profile deliver enough sustainable cash generation to justify the valuation our models currently assign?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Gold · 203 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+23.7% · Top 25%
Profitability
Return on equity (12 months)32.3% · Top 25%
Return on assets10.7% · Above median
Net margin (12 months)31.4% · Above median
Operating margin (12 months)45.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)47.5% · Above median
Balance sheet
Debt / equity0.16× · Highest 25%
Valuation Multiplesvs Gold median · lower = cheaper
P/E (12 months)8.8× · Cheaper than median
P/B2.44× · Pricier than median
P/S (12 months)2.77× · Cheaper than median
Price / free cash flow (fiscal year)13.2× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "IAMGold Corporation Fair Value". https://www.fairvalue-calculator.com/stock/IAG
Frequently asked questions
Is IAMGold Corporation (IAG) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $21.64 versus a price of $17.50, about +24% upside (undervalued).
What is the fair value of IAG?
Our model-based fair value for IAMGold Corporation is $21.64 (as of Nov 6, 2026), built from audited fundamentals. The current price: $17.50.
What is the quality score of IAG?
IAMGold Corporation has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for IAMGold Corporation (IAG)?
Our model-based price target is the fair value of $21.64 (as of Nov 6, 2026) from 24 valuation models. Cautious scenario $14.09, optimistic scenario $28.13. It is a calculation from audited fundamentals, not an analyst target.
What is the IAMGold Corporation stock forecast for 2026?
Our models put fair value at $21.64, about +24% upside versus a price of $17.50 (undervalued). Cautious scenario $14.09, optimistic scenario $28.13. The calculation is refreshed regularly with new filings.
What is the revenue of IAMGold Corporation (IAG)?
IAMGold Corporation reported trailing-twelve-month revenue of about $3.7B (latest available figure, as of Nov 6, 2026).
What growth is priced into IAMGold Corporation (IAG)?
For today's price to be fair in a discounted-cash-flow model, IAMGold Corporation would have to grow free cash flow by +7.7 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.5 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of IAG use?
Our models discount IAMGold Corporation at 12.2 %: a base by market capitalisation (mid), damped by beta 2.39, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For IAMGold Corporation that is +7.7 % per year a year over ten years, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has IAMGold Corporation (IAG) delivered so far?
Over the past 5 years revenue at IAMGold Corporation grew +18.5 % a year. The price currently implies +7.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of IAMGold Corporation (IAG) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into IAMGold Corporation (+7.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of IAMGold Corporation (IAG)?
The free-cash-flow yield on the price is 7.56 %: that much free cash flow IAMGold Corporation produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of IAMGold Corporation (IAG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IAMGold Corporation it is $21.64 per share (as of Nov 6, 2026), against a price of $17.50. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is IAMGold Corporation stock overvalued or undervalued in 2026?
As of Nov 6, 2026, IAG trades below its calculated fair value: price $17.50, fair value $21.64, a gap of about +24% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IAG?
No. The price is what the market pays today ($17.50); the fair value is what the company's own numbers justify ($21.64). For IAMGold Corporation the two are $4.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is IAMGold Corporation worth?
The market values IAMGold Corporation at about $10.2B (market capitalisation, as of Nov 6, 2026). Per share that is $17.50; our models calculate a fair value of $21.64 per share.
What do the bullish and bearish scenarios say about IAG?
Our models span a range for IAMGold Corporation: cautious scenario $14.09, base $21.64, optimistic $28.13 per share (as of Nov 6, 2026, price $17.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IAG?
IAMGold Corporation trades at a price-to-earnings ratio of 8.8 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $21.64 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 13.8 (reported for FY2025: 15.1). Median P/E at fiscal year-end, 6 fiscal years (2016 to 2025), reported earnings, 5 of the years ex one-offs: 12.2. Other multiples: PEG 13.5, P/B 2.4, P/S 2.8, EV/EBITDA 5.1.
What is the PEG ratio of IAG?
The PEG ratio of IAMGold Corporation is 13.52 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of IAMGold Corporation (IAG)?
Balance-sheet figures for IAMGold Corporation (as of Nov 6, 2026): return on equity 32.3%, debt of 0.16 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is IAG from its 52-week high?
IAMGold Corporation trades at $17.50, about 29% below its 52-week high of $24.57 and 47% above the low of $11.92 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $21.64 is for.
Which stocks are comparable to IAMGold Corporation?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Wheaton Precious Metals Corp, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is IAMGold Corporation stock attractive at the current price?
The data as of Nov 6, 2026: price $17.50, calculated fair value $21.64 (+24%), Quality Score 64/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IAG calculated?
We run IAMGold Corporation through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $21.64, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. IAMGold Corporation currently trades 19% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of IAMGold Corporation (IAG)?
The closing price on Nov 5, 2026 was $17.50. Our model-based fair value is $21.64, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IAMGold Corporation right now?
Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($14.09 to $28.13) leaves room in how you read the outcome.
Key figures of IAMGold Corporation
How large is the market capitalisation of IAMGold Corporation (IAG)?
The market capitalisation of IAMGold Corporation is $10.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of IAMGold Corporation (IAG)?
The price-to-sales ratio of IAMGold Corporation is 2.77 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of IAMGold Corporation (IAG)?
Earnings per share at IAMGold Corporation are $1.98 (price ÷ EPS = P/E 8.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of IAMGold Corporation (IAG)?
The net margin of IAMGold Corporation is 31.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of IAMGold Corporation (IAG)?
The return on equity (ROE) of IAMGold Corporation is 32.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of IAMGold Corporation (IAG)?
On an EBIT basis the return on assets of IAMGold Corporation is 6.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of IAMGold Corporation (IAG)?
The operating margin of IAMGold Corporation is 45.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IAMGold Corporation (IAG)?
Revenue at IAMGold Corporation is growing +47.5% versus a year earlier (3y avg +44.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at IAMGold Corporation (IAG)?
Earnings per share at IAMGold Corporation are growing +191% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does IAMGold Corporation (IAG) carry?
The net debt of IAMGold Corporation is $419M (fiscal year 2025, ≈ 0.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 6, 2026