IAMGOLD, Suriname reach agreement addressing future resource development IAMGOLD announced that it has reached a definitive agreement with the Government of the Republic of Suriname addressing future resource development and related power costs. The agreement, once executed, will amend the existing mineral agreement regarding the company's Rosebel mine in Suriname. It is expected that the agreement, which follows the Heads of Agreement announced in December 2011, will be referred to the National Assembly of the Republic of Suriname as soon as practicable for their review and approval. Until such approval has been received, both parties have agreed to keep confidential the details of the Agreement.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Avon Products (AVP) upgraded to Buy from Neutral at Citi... Box (BOX) upgraded to Buy from Neutral at BofA/Merrill... Daimler AG (DDAIF) upgraded to Buy from Neutral at UBS... Emerge Energy (EMES) upgraded on amended credit deal at Stifel... Fairmount Santrol (FMSA) upgraded to Hold from Underperform at Jefferies... IAMGOLD (IAG) upgraded to Hold from Reduce at HSBC... Kinross Gold (KGC) upgraded on acquisitions at RBC Capital... Lowe's (LOW) upgraded to Overweight from Neutral at Atlantic Equities... Nimble Storage (NMBL) upgraded on valuation at DA Davidson... Resolute Energy (REN) upgraded to Equalweight from Underweight at Capital One... Schnitzer Steel (SCHN) upgraded to Equal Weight from Underweight at Morgan Stanley... Webster Financial (WBS) upgraded to Overweight from Neutral at JPMorgan.
IAMGOLD upgraded to Hold from Reduce at HSBC HSBC analyst Botir Sharipov upgraded IAMGOLD to Hold citing better value following the 32% pullback in shares over the past month. The analyst lowered his price target for the stock to $1.60 from $1.80.