CIBC Capital Markets raised its price target on IAMGOLD Corp. (IMG.TO, IAG) to US$20 from US$19.
Analyst Anita Soni maintained an Outperformer rating on shares of the Canadian gold miner after it reported Q4 and 2025 full-year production results, and 2026 guidance, before market open on Monday.
The stock rose 9.7%, or $2.33, to $26.28 on the Toronto Stock Exchange.
"After updating our model for Q4/25 results, which beat our estimates, and fine-tuning our production and cost outlook for 2026, we are increasing our price target," Soni said in a note to clients.
"IAMGOLD has delivered on the ramp-up at Cote and 2026 will be a year of incremental fine-tuning at the asset, with an aim to drive efficiencies and cost reductions," the analyst said.
"With the prepay gold contracts concluded, the company is generating strong FCF," Soni said.
"Additionally, the company is expected to deliver an updated study later this year integrating Gosselin with Cote, which we believe will be a key catalyst for the stock."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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