Is IAMGOLD (IAG) One of the Best Gold Stocks to Buy?

IAMGOLD Corporation (NYSE:IAG) is one of the 11 Best Gold Stocks to Buy According to Hedge Funds. On October 9, Raymond James increased its price target on IAMGOLD Corporation (NYSE:IAG) from $9 to $13 while keeping a Market Perform rating.

This decision to increase the price target on IAMGOLD Corporation (NYSE:IAG) came after the firm raised its gold and silver price forecasts for both the near and long term. The increase in forecasts is based on the recent run in gold prices and strong year-to-date performance.

Is IAMGOLD (IAG) One of the Best Gold Stocks to Buy?

Previously, on October 7, Michael Siperco from RBC Capital had maintained the firm’s Buy rating on IAMGOLD Corporation (NYSE:IAG).

Analysts have a positive outlook on IAMGOLD Corporation (NYSE:IAG). As of October 10, the 12-month median price target set by analysts indicates a potential upside of 10.35% from current levels.

IAMGOLD Corporation (NYSE:IAG) is a Canadian intermediate gold producer and developer with operations in North America and West Africa.

While we acknowledge the potential of IAG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IAG and that has a 100x upside potential, check out our report about the cheapest AI stock.

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