IAG - Iamgold slides after Q4 loss higher cost guidance for 2023

Iamgold ( NYSE: IAG ) -3.2% in Friday's trading after reporting a Q4 adjusted loss and flat revenues while forecasting higher than expected costs for FY 2023.

The miner guided for production this year of 410K-470K oz while anticipating cash costs of $1,125-$1,175/oz and all-in sustaining cost of $1,625-$1,700/oz.

According to Dow Jones, Raymond James had expected FY 2023 production of 418K oz at AISC of $1,567, and Scotia Capital had modeled FY 2023 production at AISC of $1,476/oz.

For Q4, Iamgold ( IAG ) said attributable gold production increased 21% Y/Y to 185K oz and lifting output for the full year to 713K oz, above the top end of its revised guidance for 650K-705K oz.

Excluding the recently sold Rosebel operation, production from continuing operations rose 12% Y/Y to 499K oz.

Q4 cash costs fell to $1,173/oz from $1,213/oz in the year-earlier quarter but exceeded the $1,115/oz analyst consensus estimate; Q4 AISC was $1,672/oz.

Iamgold ( IAG ) shares have fallen nearly 5% so far this year and 23% during the past year .

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