IAMGOLD Maintained at Outperformer at CIBC After Q4 Production Cuts; Price Target Raised to US$20.00

MT Newswires Live01-21

CIBC Capital Markets on Tuesday maintained its outperform rating on the shares of IAMGOLD (IMG.TO, IAG) while raising its price target to US$20.00 from US$19.00 after the company released fourth-quarter production results.

"Before market on January 19, the company released Q4/25 and 2025 full-year production results, and its 2026 guidance. 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 to $20.00 from $19.00 previously and maintaining our Outperformer rating. Our NAVPS increases slightly to $17.99 from $17.73 and our CFPS estimate, using an annualized Q4/25-FY26 basis, increases to $3.61 from $3.36 previously. 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. With the prepay gold contracts concluded, the company is generating strong FCF. 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. IAMGOLD is our top pick of the intermediate gold stocks.

(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)

Price: 27.54, Change: +1.26, Percent Change: +4.79

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