Iamgold shares surge 14.59% after-hours as $165M Essakane mine investment announced.

Iamgold (IAG) surged 14.59% in after-hours trading following a $165 million investment announcement for its Essakane gold mine in Burkina Faso, targeting maintenance, waste stripping, and new pit operations to sustain 2026 production of 400,000–440,000 ounces. The move aligns with the company’s prior 2025 output of 427,000 ounces and reinforces operational stability. Analyst upgrades further fueled optimism, including BofA raising its price target to $20.50 (from $17.50) and RBC/CIBC maintaining "Outperform" ratings with $21 and $20 targets, respectively. Strong financial metrics, such as a 21.9% three-year revenue growth and 45.91% EBITDA margin, underscored investor confidence in IAMGold’s resilience and expansion prospects.