RBC Capital Downgrades IAMGOLD (IAG) to Underperform

RBC Capital analyst Josh Wolfson downgraded IAMGOLD (NYSE: IAG) from Sector Perform to Underperform with a price target of $2.00.

The analyst commented, "We are downgrading IAMGOLD to Underperform from Sector Perform, and maintain our price target at $2.00. This change is in conjunction with the RBC Global Mining equity research team’s updated precious metal price assumptions, and higher cost inflation for producers. In our view, IAMGOLD faces elevated risks with the development of its Cote Gold project, plus execution at its Rosebel and Westwood mines. Lower gold prices also have a disproportionate negative effect on the company."

For an analyst ratings summary and ratings history on IAMGOLD click here. For more ratings news on IAMGOLD click here.

Shares of IAMGOLD closed at $3.32 yesterday.

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