IAMGold price target raised to $6.25 from $5.50 at Scotiabank

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.