New York Gold Miner Sees Market Cap Surge by 1.3 Trillion Won in Just One Day

IAMGOLD CORP (IAG) closed at $17.93 on the New York Stock Exchange in the previous trading session, up 7.69%, lifting its market capitalization to about $10.36 billion (approximately KRW 15.7 trillion).
In a single day, its market cap grew by roughly $860 million (around KRW 1.3 trillion), and the stock finished trading at about KRW 27,000.
Trading volume exceeded 3.3 million shares, reflecting a short-term buying surge in gold miners amid the recent rally in gold prices.

IAMGOLD recently announced an updated consolidated mineral resource estimate for its Côté Gold mine in Ontario, Canada, raising its gold reserves by about 12% compared to year-end, and plans to publish a new technical report and an updated mine development plan in the fourth quarter.

In its first-quarter results, the company maintained its 2026 gold production guidance at 720,000–820,000 ounces. Major brokerages such as Bank of America and Scotiabank have since raised their price targets based on Côté Gold’s growth potential, further boosting investor sentiment.

Headquartered in Toronto, IAMGOLD is a mid-tier gold producer with key operations in North America and Africa, including the Côté Gold and Westwood mines in Canada and the Essakane mine in Burkina Faso. Among these, Côté Gold— in which IAMGOLD holds a 70% stake— is its flagship asset. Once commercial production ramps up, it is expected to significantly enhance the company’s annual output and cash-generation capacity.