IAMGold reinstated with an Outperform at BMO Capital

BMO Capital analyst Matthew Murphy reinstated coverage of IAMGold (IAG) with an Outperform rating and C$12 price target The firm sees 2025 as a key year for IAMGold to continue to re-rate as Cote ramps up. The firm, which anticipates rising production, falling unit costs, gold pre-pays rolling off, as well as a likely debt restructuring, views the stock as trading at what it calls “still at an excessive discount to its intermediate peer group.”