Raymond James upgraded IAMGold (IAG) to Market Perform from Underperform with a price target of $7, up from $6. The firm says Q4 was the strongest production quarter for the year among a number of mid-tier gold producers. The firm expects the trend beginning in Q4 of mid-tiers showing better operating performance than the seniors can continue in 2025. Given the expected operating outperformance from mid-tiers in 2025, Raymond James expects the mid-tier gold producers can continue to attract investment due to lagging valuations versus seniors, driving the upgrade of IAMGold, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IAG:
- Jefferies Euro transporation analyst holds analyst/industry conference call
- Jefferies Euro hotels/airlines analyst holds analyst/industry conference call
- IAMGold price target lowered to $6 from $6.50 at Raymond James
- IAMGold sees FY25 attributable gold production 735,000-820,000 ounces
- IAMGold reports preliminary FY24 attributable gold production of 667,000 ounces
Questions or Comments about the article? Write to editor@tipranks.com