IAMGOLD (IAG +0.3%) is initiated with a Buy rating and a $7.50 price target at Global Hunter,...

  • Friday, June 14, 2:52 PM ET
    IAMGOLD (IAG +0.3%) is initiated with a Buy rating and a $7.50 price target at Global Hunter, which cites its track record of working in emerging market locations with larger gold mines. The Rosebel gold mine in Suriname can produce ~400K oz./year of gold over at least a 20-year mine life; IAG is targeting cash costs in the low $700/oz. area, which the firm believes is sustainable going forward.