RBC Capital Upgrades IAMGOLD (IAG) to Outperform

RBC Capital analyst Michael Siperco upgraded IAMGOLD (NYSE: IAG) from Sector Perform to Outperform with a price target of $14.00 (from $9.00).

The analyst comments: "Cote has essentially reached nameplate capacity and our focus is now shifting to longer term upside from Gosselin, expansion, and potentially Nelligan/Monster Lake. We now model ~$2.5bn in FCF on our 15% higher gold price forecast through YE30 (~$3,550 vs. ~$3,100/oz previously), potentially repaying debt entirely in 2026, while funding further growth. The de-risked production and balance sheet coupled with Gosselin potential (study planned for 2026) drives our upgrade to Outperform, along with a higher US$14 target ($9 prev)."

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 $10.02 yesterday.

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