Scotiabank Lifts IAMGold Corporation (IAG) PT to $23 Driven by Record Gold, Silver Price Forecasts

IAMGold Corporation (NYSE:IAG) is one of the cheap hot stocks to invest in right now. On January 26, Scotiabank increased its price target for IAMGold to $23 from $15 while maintaining a Sector Perform rating. This adjustment is part of a broader update across the firm’s Gold & Precious Minerals coverage, driven by higher gold and silver forecasts. The firm noted that these revised projections are supported by ongoing economic and geopolitical uncertainty, as well as robust buying activity from central banks.

On January 23, Canaccord raised the firm’s price target on IAMGold Corporation (NYSE:IAG) to C$32 from C$23.50, while maintaining a Buy rating.

Additionally, on January 19, Bank of America raised the price target on IAMGold to $20.50 from $17.50 and kept a Buy rating. The firm increased targets across the North American precious metals group, noting in a research note that many macro drivers pushing gold prices higher have intensified. Additionally, BofA anticipates that company capital returns for Q4 2025 will be strong.

IAMGold Corporation (NYSE:IAG), through its subsidiaries, operates as a gold producer and developer in Canada and Burkina Faso.

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Disclosure: None. This article is originally published at Insider Monkey.