Scotiabank raised the firm’s price target on IAMGold (IAG) to $6.25 from $5.50 and keeps a Sector Perform rating on the shares. The company is completing its Cote Gold project development and is repurchasing the 9.7% interest in Cote Gold it does not currently own, the analyst tells investors. The firm is increasing its target multiple to reflect further de-risking in the Cote Gold project.
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