UPDATE: BMO Capital Markets Upgrades IAMGOLD to Outperform; Pullback Overdone
BMO Capital Markets raised its rating on IAMGOLD (NYSE: IAG) from Market Perform to Outperform with a reiterated $17 price target.
BMO Capital Markets noted, "BMO Research's analysis suggests that market concerns over slower development at Westwood, Sadiola and Niobec appear overdone relative to the valuation adjustments (~1% lower NPV) and represents a potential buying opportunity given today's share price decline. BMO Research had already assumed lower production at Sadiola and excluded Sadiola Deeps development based on analysis of joint venture partner, AngloGold Ashanti (ANG-JSE; R281.13; Market Perform)."
IAMGOLD closed at $11.97 on Wednesday.
Latest Ratings for IAG
|Jul 2015||Raymond James||Downgrades||Market Perform||Underperform|
|Jul 2015||CIBC||Initiates Coverage on||Underperform|
|Jul 2015||RBC Capital||Downgrades||Sector Perform||Underperform|
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