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.

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

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.

While we acknowledge the potential of IAG to grow, 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 100x upside potential, check out our report about this cheapest AI stock.

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