IAMGOLD Corporation IAG announced an updated Mineral Resource estimate for its Ontario-based Côté Gold Mine, which is a joint venture project owned 70% by IAMGOLD and 30% by Sumitomo Metal Mining Co. Ltd.
The updated estimate integrates the Côté and Gosselin zones into one consolidated model using updated economic assumptions, effective March 31, 2026. The consolidated model reached a milestone as the company progresses toward an updated mine plan and expansion study, both anticipated in the fourth quarter of 2026.
The integrated model incorporates updated assumptions, including a gold price of $2,500 per ounce and a consolidated Mineral Resource cut-off grade of 0.25 g/t Au. The company’s previous assumptions were gold prices of $2,100 per ounce for Côté, and $2,500 per ounce for Gosselin.
Updates on IAMGOLD’s Côté Gold Resource Estimate
Integrating the deposits into a consolidated model provided increased delineation of the saddle area between the Côté and Gosselin zones. Côté Gold Measured and Indicated Mineral Resources increased 12% from the 2025-end to 20.3 million ounces of gold. This includes 12.7 million ounces of gold at Côté and 7.4 million ounces at Gosselin.
Measured and Indicated Mineral Resources at Côté mark an increase of 13% from the 2025-end, while Gosselin marks an increase of 8%. Moreover, the integration efforts generated an extra 0.2 million ounces of Indicated Mineral Resources.
The updated resource estimate now incorporates assay results from 64 new drill holes, including 39 drill holes at Côté and 25 additional drill holes in Gosselin. At Crote, drilling targeted the saddle area to strengthen geological confidence, while at Gosselin, the primary focus was on converting inferred resources into the higher-confidence Indicated category.
IAG Stock’s Price Performance
Shares of the company have surged 135.4% in the past year compared with the industry’s 60.9% growth.
IAMGOLD Zacks Rank & Other Stocks to Consider
IAG currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Albemarle Corporation ALB, Air Products and Chemicals, Inc. APD and Avino Silver & Gold Mines Ltd. ASM. ALB sports a Zacks Rank #1 (Strong Buy) at present, and APD and ASM carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle has an average trailing four-quarter earnings surprise of 74.5%. The Zacks Consensus Estimate for the company’s 2026 earnings is pegged at $12.45 per share, indicating year-over-year growth from a loss of 79 cents. ALB shares have skyrocketed 203.1% so far this year.
The Zacks Consensus Estimate for Air Products and Chemicals’ current-year earnings is pegged at $13.20 per share, indicating a 9.7% year-over-year rise. APD has an average trailing four-quarter earnings surprise of 2.9%. Air Products and Chemicals’ shares have gained 10.1% in a year.
Avino Silver has an average trailing four-quarter earnings surprise of 125%. The Zacks Consensus Estimate for Avino Silver’s 2026 earnings is pegged at 39 cents per share, indicating 34.5% year-over-year growth. Its shares have gained 113.4% in a year.
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This article originally published on Zacks Investment Research (zacks.com).