Stifel Canada Upgrades IAMGOLD to Strong-Buy Rating Amid Analyst Surge

Stifel Canada has upgraded shares of IAMGOLD (TSE:IMG, NYSE:IAG) from a hold rating to a strong-buy rating, as outlined in a research note released on October 15, 2023. This change reflects increasing confidence in the company’s future performance, with Stifel also projecting earnings per share of $0.22 for the third quarter of 2025.

Several other financial institutions have recently adjusted their outlook on IAMGOLD. On August 29, Bank of America raised its target price for the stock from C$13.00 to C$15.50. Following this, Cormark increased its price target from C$16.50 to C$20.00 on September 16. The Royal Bank of Canada also made a notable adjustment on September 10, moving from a hold rating to a moderate buy rating.

Further bolstering IAMGOLD’s position, National Bankshares raised its target price from C$21.00 to C$23.00, giving the stock an outperform rating. Stifel Nicolaus similarly upgraded IAMGOLD from a hold to a buy rating while significantly increasing their target price from C$11.00 to C$28.00.

Overall, the stock has garnered attention from analysts, with four firms now rating it as a strong buy, three as a buy, and one as a hold. According to data from MarketBeat.com, IAMGOLD currently holds a consensus rating of “buy” with an average price target of C$21.20.

IAMGOLD’s Global Operations and Market Position

IAMGOLD is recognized as a mid-tier gold mining company operating in three key regions: North America, South America, and West Africa. The company is actively developing mining districts that encompass both operational mines and projects in various stages of construction, development, and exploration.

Among its operational assets are the Essakane mine in Burkina Faso, the Rosebel mine in Suriname, and the Westwood mine in Canada. This diverse geographical presence positions IAMGOLD to capitalize on various market opportunities.

Despite the recent upgrades, IAMGOLD shares experienced a slight decline of 1.4% in trading following the announcements. Such fluctuations are common in the stock market, reflecting broader market conditions and investor sentiment.

Analysts will continue to monitor IAMGOLD’s performance closely as the company navigates its operational strategies and responds to market dynamics. Investors interested in IAMGOLD are encouraged to stay informed about the latest developments and analyst ratings, which can be accessed through financial news platforms and stock report services.