Agnico Eagle Mines Limited (AEM) Receives Price Target

Agnico Eagle Mines Limited (AEM) : 9 Wall Street analysts covering Agnico Eagle Mines Limited (AEM) believe that the average level the stock could reach for the short term is $58.3. The maximum price target given is $68 and the minimum target for short term is around $37, hence the standard deviation is calculated at $10.18.

Agnico Eagle Mines Limited (AEM) : 3 brokerage houses believe that Agnico Eagle Mines Limited (AEM) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 7 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Agnico Eagle Mines Limited (AEM). Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 12 Wall Street Analysts endorse the stock as a Buy with a rating of 2.33.


Also, In a research note released to the investors, RBC Capital downgrades its rating on Agnico Eagle Mines Limited (NYSE:AEM).The analysts at the brokerage house have a current rating of Sector Perform on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on August 8, 2016.

Agnico Eagle Mines Limited (NYSE:AEM): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $50.32 and $50.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $52.58. The buying momentum continued till the end and the stock did not give up its gains. It closed at $52.09, notching a gain of 2.84% for the day. The total traded volume was 2,406,716 . The stock had closed at $50.65 on the previous day.

Agnico Eagle Mines Ltd is a Canada-based gold producer. The Company has mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, and exploration activities in Canada, Europe, Latin America and the United States. It operates through three business units: Northern Business, Southern Business and Exploration. Its Northern Business consists of the operations in Canada and Finland, which include the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine and the Meliadine project. Its Southern Business consists of the Companys operations in Mexico. The Companys mining at Pinos Altos is conducted through its subsidiary, Agnico Eagle Mexico S.A. de C.V., which owns the Pinos Altos mine, including the Creston Mascota deposit. Its Exploration group focuses on the identification of new mineral reserves and resources, and new developments in stable and proven gold producing regions.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.