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UPDATE: BMO Capital Markets Upgrades IAMGOLD to Outperform; Pullback Overdone

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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

DateFirmActionFromTo
Jun 2017Raymond JamesReinstatesMarket Perform
May 2017Credit SuisseUpgradesUnderperformNeutral
Feb 2017BMO CapitalInitiates Coverage OnMarket Perform

View More Analyst Ratings for IAG
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Posted-In: BMO Capital MarketsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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