11:06 AM EDT, 09/10/2025 (MT Newswires) -- Iamgold ( IAG ) expects to publish an updated life-of-mine plan for its flagship Cote Gold project in Ontario, Canada by the end of 2026, which will incorporate the 7.4 million-ounce Gosselin deposit and a potential 30-40% throughput expansion, RBC Capital said in a note Wednesday.

The analysts raised their rating on the stock to outperform from sector perform, citing higher gold price forecasts as well as reduced ramp-up risk at the Cote mine, which reached a significant milestone in June as a processing plant achieved nameplate capacity of 36,000 metric tons per day.

According to the report, the updated plan could extend Cote's current 16-year mine life, though the company said the outlook depends on costs, timing, and additional tailings' capacity.

The company anticipates its Essakane mine in Burkina Faso to generate roughly $1.6 billion in free cash flow over the next four years, averaging about $400 million annually, the report said.

Iamgold's ( IAG ) management forecasts $1 billion of free cash flow for 2026, and expects the company to reach a net cash position by mid-2026 as higher output, stronger prices, and lower Cote capital spending strengthen its balance sheet, RBC said.

The firm also raised its price target to $14 from $9.

Shares of Iamgold ( IAG ) were up more than 9% in recent trading.

Price: 10.97, Change: +0.95, Percent Change: +9.43