Iamgold's Côté Gold Project Anticipated To Boost Production Amid Rising Gold Price Predictions: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
RBC Capital Markets analyst Wayne Lam has upgraded Iamgold Corporation (NYSE:IAG) to Sector Perform from Underperform, raising the price target to $2.75 from $1.75. The upgrade reflects improved near-term SCF and increased gold price forecasts. The Côté Gold project is expected to transform Iamgold's production profile, providing lower-cost output in Ontario. The analyst anticipates a 30%+ production growth into 2024 at ~15% lower AISC.
September 12, 2023 | 7:05 pm
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Iamgold Corporation's stock has been upgraded by RBC Capital Markets, with a raised price target. The Côté Gold project is expected to significantly boost production.
The upgrade by RBC Capital Markets and the raised price target indicate a positive outlook for Iamgold Corporation. The Côté Gold project, which is expected to significantly boost production, further strengthens this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100