About IAMGOLD CORP
IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.
Its exploration and development projects include the Pitangui project in Brazil; the Karita project located in Guinea; the Diakha-Siribaya project situated in Mali; and the Nelligan and Monster Lake projects located in Quebec, Canada. IAMGOLD Corporation was incorporated in 1990 and is headquartered in Toronto, Canada.
IAG operates in the Mining | Precious Metals | headquartered in Toronto, Ontario | approximately 5,360 employees | led by CEO Maryse Bélanger.
The $2.5B question: What happens when a company this good becomes this expensive?
In the constellation of American capitalism, certain companies shine brighter than others — not because they are inherently more valuable, but because they have positioned themselves at the nexus of forces that shape the economy. IAMGOLD CORP is one such company.
At $2.5B in market capitalization, IAMGOLD CORP (IAG) currently ranks #200 in our quantitative model, with a composite score of 76.4/100. That places it firmly in "Strong Buy" territory — our highest conviction rating.
But here's the thing about stocks priced for perfection: They leave no room for error.
The Numbers That Matter
Let's start with what's undeniably true. Our 6-factor model gives IAG the following scores:
| Factor | Score | Weight | Assessment |
|---|---|---|---|
| Quality | 86/100 | 30% | Exceptional |
| Value | 88/100 | 15% | Attractive |
| Momentum | 87/100 | 25% | Accelerating |
| Investment | 74/100 | 10% | Growing |
| Stability | 14/100 | 10% | Volatile |
| Short Interest | 11/100 | 10% | High shorts |
The quality score of 86/100 is the headline here. It reflects profitability metrics that would make most CFOs weep with envy:
- ROE: 29.9%
- Net Margin: 51.9%
- Gross Margin: 33.7%
These aren't just good numbers. They're the kind of numbers that make IAG a "must-own" stock for institutional portfolios.
The Bull Case
"If you could design a business in a laboratory, it would look something like IAG."
The bull case writes itself:
- Quality is persistent. Academic research shows high-quality stocks outperform by 4-6% annually over long periods. IAG is quality defined.
- Momentum is real. With a momentum score of 87/100, the stock has been recognized by the market — and momentum tends to persist.
- The moat is deep. Companies with these margins don't lose them easily. The competitive position is entrenched.
The Bear Case
But here's what keeps value investors up at night:
- Valuation compression risk. At current levels, the stock is priced for continued perfection. Any stumble — a missed quarter, a competitive threat, a macro slowdown — could compress the multiple from 3.0x to the low 20s. That's a 20-30% decline without anything fundamentally "wrong."
- The crowded trade problem. When everyone owns a stock, who's left to buy? Momentum works until it doesn't.
- Mean reversion. Trees don't grow to the sky. At some point, growth decelerates.
The Valuation Framework
| Scenario | Assumption | Fair Value | Upside/Downside |
|---|---|---|---|
| Bear | Multiple compression to 20x | -20% | Downside |
| Base | Current trajectory continues | +10-15% | Modest upside |
| Bull | Momentum accelerates | +30-40% | Significant upside |
The risk-reward is ... fine. Not exceptional. Not terrible. Just fine.
The Bottom Line
IAMGOLD CORP is exactly what it appears to be: a high-quality business with strong momentum trading at a premium price. Whether that's attractive depends entirely on what kind of investor you are.
For long-term, buy-and-hold investors, IAG is a core holding. For value investors or short-term traders, look elsewhere.
The company is priced for perfection — and in markets, as in life, perfection is a fragile thing.
⭐⭐⭐⭐⭐ Rating: 5-Star Strong Buy
Score: 76.4/100 | Rank: #200 of 3,571 stocks
Sector: Materials
This analysis reflects the views of Blank Capital Research as of February 16, 2026. It is not investment advice. Past performance does not guarantee future results.