5 Best TSX Stocks to Buy According to Hedge Funds

In this article, we will list the 5 Best TSX Stocks to Buy According to Hedge Funds. Please visit 11 Best TSX Stocks to Buy According to Hedge Funds if you would like to see the extended list and the methodology behind it.

5. IAMGOLD Corporation (NYSE:IAG)

Number of Hedge Fund Holders: 41

Stock Upside: 54.59%

IAMGOLD Corporation (NYSE:IAG) is one of the best TSX stocks to buy according to hedge funds. On April 9, Moody’s Ratings upgraded IAMGOLD Corporation’s (NYSE:IAG) corporate family rating to B1 from B2. This call was supported by IAMGOLD’s reduction of its debt load and its successful ramp-up of the Côté Gold mine in Ontario, Canada.

Moody’s lifted IAMGOLD’s probability of default rating to B1-PD from B2-PD and senior unsecured notes to B2 from B3. The firm also improved the Speculative Grade Liquidity Rating to SGL-1 from SGL-2. SGL-1 is the highest tier. Moody’s also changed its outlook for IAMGOLD to stable from positive. In other words, the ratings giant sees the improved credit position as now locked in rather than still developing.

On debt reduction, Moody’s noted that IAMGOLD cut its net debt by approximately $515 million in 2025 alone. The company also fully repaid a $400 million second-lien term loan, which is a significant deleveraging milestone for a mid-tier gold miner that had carried a heavy debt burden since financing the construction of Côté Gold, noted Moody’s.

Speaking of Côté Gold, IAMGOLD controls 70% of the mine, which reached commercial production in August 2024. The mine hit nameplate plant throughput of 36,000 tons per day over 30 consecutive days ahead of schedule in 2025. Moody’s noted that this is a milestone that validated the mine’s operational capability and justified the years of capital investment.

IAMGOLD Corporation (NYSE:IAG) is a mining company engaged in the exploration, development, and production of gold. Its operations include producing assets such as the Essakane mine in Burkina Faso and the Westwood mine in Canada, alongside development projects like the Côté Gold project in Ontario.