IAMGold initiated with a Buy at Jefferies

Jefferies analyst Fahad Tariq initiated coverage of IAMGold (IAG) with a Buy rating and $24 price target as part of a broader research note on Metals & Mining. Gold and silver have rebounded in recent weeks, though the firm continues to believe the market is underestimating the implications of growing fiscal deficits, elevated debt levels, and currency debasement, the analyst tells investors in a research note, also noting that IAMGold is the firm’s “top pick”. There is a long list of gold companies that want to add Canadian exposure, Jefferies states, further stating the firm expects increased discussion on a potential sale of the company following the updated Cote-Gosselin mine plan and Mineral Reserve estimate expected in Q4.

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IAMGold initiated with a Buy at Jefferies

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