TD Securities Upgrades IAMGOLD (IAG) to Buy
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TD Securities upgraded IAMGOLD (NYSE: IAG) from Hold to Buy with a price target of C$7.5.
Analyst Steven Green said, "With IAMGOLD's cost-reduction initiatives paying off and the company now generating meaningful free cash flow, we believe that it can narrow the current valuation gap. At 4.1x 2017E EBITDA and 0.9x NAV, the stock is trading at a significant discount to its peers."
Shares of IAMGOLD closed at $3.97 yesterday.
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