This TSX gold producer tipped as top M&A target in scorching metals market

Nearly 100 per cent of respondents in the survey expect more gold and silver M&A in 2026. Photo by GEORG HOCHMUTH / APA / AFP via Getty ImagesArticle contentWith the price of gold still trading at stratospheric levels, Iamgold Corp. was identified as a top candidate for takeover in 2026, a new TD Cowen survey says.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentNearly 20 per cent of respondents to TD’s survey of 58 institutional investors and mining executives, released on Feb. 10, flagged Toronto-based Iamgold (IMG:TSX) as a leading target, followed by Artemis Gold Inc. (ARTG:TSX) at 11 per cent and Arizona Sonoran Copper Co. Inc. at seven per cent.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle content“There is strong alignment among respondents on M&A expectations with the majority expecting more corporate M&A activity in gold, silver and copper in 2026 versus 2025,” a note from analysts led by Derick Ma said.Article contentInvestorCanada's best source for investing news, analysis and insight.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentNearly 100 per cent of respondents expect more gold and silver M&A in 2026 compared with 2025, while just under 80 per cent of institutional investors said they expect M&A activity in the copper sector to increase. A slightly larger share of mining executives expect the same.Article contentGold miner M&As from last year include Coeur Mining Inc.’s acquisition of New Gold Inc. and the merger of Equinox Gold Corp. and Calibre Mining Corp.Article contentJust last week, Eldorado Gold Corp. announced a deal to acquire Foran Mining Corp.Article contentThe majority of investors and executives are calling for spot gold prices to remain elevated for 2026.Article contentJust under 45 per cent of mining executives, the largest share of C-suite respondents, think gold prices will range between US$5,501 and US$6,000, while 35 per cent of corporate investors called for gold to range between US$5,001 and US$5,500.Article contentDuring the period the survey was conducted — Jan. 12 to 30 — the price of gold flirted with US$5,600 an ounce. Wednesday it was trading just above US$5,000.Article contentArticle contentIn a further sign that investors have bought into the gold rush, nearly eight in 10 respondents said they were “overweight” gold compared with 2025 when half reported the same.Article contentRead More This TSX top gainer is up 56% this year, with even 'more meaningful upside,' analysts say Why CIBC is hiking its gold target to $6,000 despite recent price plunge Article contentMany investors also indicated they are expecting excess cash to come their way this year as 44 per cent favoured capital returns to shareholders.Article contentNearly a third said they favoured capital being directed to production, while 19 per cent said it should be allocated to mergers and acquisitions.Article contentOperational worries were identified as the biggest sector concern by 44 per cent of investors.Article contentTD also found that investors underestimated inflation pressures, pegging them at three per cent to seven per cent. TD recently estimated it at approximately 15 per cent.Article contentOne of the biggest threats to a miner’s success can be the countries or country they operate in.Article contentSurvey respondents named Mexico the most improved jurisdiction, overtaking Argentina. This occurred prior to the January abduction of 10 employees of Vizsla Silver Corp. (VZLA:TSX) in the Mexican state of Sinaloa. Three were confirmed dead, according to Mexican authorities.Article contentCanadian miners with the most exposure to Mexico include Torex Gold Resources Inc., (TXG:TSX) at just under 100 per cent, First Majestic Silver Corp. (AG:TSX) at just over 90 per cent and Endeavour Silver Corp. (EDR:TSX) at just over 70 per cent.Article content• Email: gmvsuhanic@postmedia.com Article contentTrending Trump privately weighs quitting CUSMA trade deal he negotiated Economy BlackBerry cofounder Michael Lazaridis invests in Vancouver-based AI startup Innovation Garry Marr: Say no to a free lunch for your RRSP today, expect fewer menu options at retirement Retirement The problem of the Toys 'R' Us $36-million gift card mountain Retail & Marketing As Cuba fuel crisis deepens, Canadians on the ground remain in vacation mode News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Trump privately weighs quitting CUSMA trade deal he negotiated Economy BlackBerry cofounder Michael Lazaridis invests in Vancouver-based AI startup Innovation Garry Marr: Say no to a free lunch for your RRSP today, expect fewer menu options at retirement Retirement The problem of the Toys 'R' Us $36-million gift card mountain Retail & Marketing As Cuba fuel crisis deepens, Canadians on the ground remain in vacation mode News