BofA Reiterates a Buy Rating on IAMGOLD Corporation (IAG) With a $9.25 PT

IAMGOLD Corporation (NYSE:IAG) is one of the 11 Cheap Gold Stocks to Buy According to Hedge Funds. Bank of America Securities analyst Lawson Winder reiterated a Buy rating on IAMGOLD Corporation (NYSE:IAG) on June 15 and set a price target of $9.25.

The company’s positive fiscal Q1 2025 results support the rating, as its attributable production for the quarter totaled 161,000 ounces from its three mines. Management anticipates that the first quarter will be the lightest production quarter of the year, primarily due to maintenance activities and ramp-up taking place at Côté. It also expects a rise in the grade profile at Essakane.

IAMGOLD Corporation (NYSE:IAG) reported that while production at Westwood dropped compared to the previous quarter, it is expected to recover its track record of solid perforation with continuing improvements in mine flexibility with stope development. Management is optimistic in its production guidance estimates of 735,000 to 820,000 ounces for the year.

Based in Canada, IAMGOLD Corporation (NYSE:IAG) is an intermediate gold developer and producer that operates gold mining properties in West Africa and North America. Its projects include Essakane, Westwood, and Cote Gold.

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