The Globe and Mail reports in its Thursday, April 24, edition that National Bank Financial analysts believe that the global trade war and market uncertainty may continue to boost precious metal prices and valuations. The Globe's David Leeder writes that analyst Shane Nagle has an unchanged $15 share target for Iamgold. Mr. Nagle continues to rate the shares "outperform." Analysts on average target the shares at $12.84. Mr. Nagle says in a note: "The focus of Q1/25 will likely be continued efforts on cost control and the impact of higher royalties, taxes and share based-comp as the gold price continues to move higher. We also expect commentary around the impact of tariffs on opex and capex, especially for U.S. producers and projects, with the indirect impacts yet to be realized. With elevated gold prices supporting the top line, we are looking for management commentary around capital allocation, and expect the overall financial leverage of the sector to ease as debt is repaid with some of the expected strong cash flows. By our estimates, Q1/25 marks the highest and fifth consecutive quarter of rising FCF per GEO sold -- a trend expected to continue into mid-2025 and potentially beyond."
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