CIBC Raises PT on IAMGOLD Corporation (IAG) from $9.20 to $10.40

With strong billionaire interest, IAMGOLD Corporation (NYSE:IAG) is included in our list of the 10 Best Junior Gold Mining Stocks to Buy According to Billionaires.

On June 21, 2025, IAMGOLD Corporation (NYSE:IAG)’s Cote Gold Mine, just 15 months after its first gold pour, reached nameplate capacity of 36,000 tons per day for a full 30 consecutive days. This reinforces the company’s 2025 production guidance of 360,000 to 400,000 ounces, with further cost efficiencies expected ahead.

The completion of IAMGOLD Corporation (NYSE:IAG)’s 150,000-ounce gold prepay arrangement on June 25 further strengthens its position. With its completion, the company’s liquidity is bolstered as it ramps up its operations.

Amid these developments, CIBC raised its price target on IAMGOLD Corporation (NYSE:IAG) from $8.40 to $9.20, maintaining an ‘Outperform’ rating. The analyst revised their valuation model to take a forward-looking approach, focusing on projections for the Q2 2025 to Q1 2026 period. On July 15, 2025, the analyst increased the target again to $10.40.

IAMGOLD Corporation (NYSE:IAG) operates in Canada and Burkina Faso as a gold producer and developer. It is included in our list of the best gold stocks.

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Disclosure: None.