- Iamgold (IAG +5.8%) climbs as much as 6% after BMO Capital upgrades shares to Outperform from Market Perform with a $5 price target, raised from $3.75, praising its decision to wait for improved market conditions before proceeding with construction of the Côté gold project.
- BMO analyst Andrew Kaip says "incremental value additions" are more beneficial while IAG "works to gain a social license for advancing the Côté gold project under more appropriate market conditions."
- Kaip says IAG can continue to focus on initiatives at existing operations that he considers "representative of the short-cycle capacity of the company."