$Agnico Eagle (AEM.US)$ KGI has a TA target of USD59. Agnico...

KGI has a TA target of USD59.

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Australia, Mexico, and Finland. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.

Revenue jumped by 45% YoY to US$1.38b, missing estimates by USD40m. Non-GAAP EPS was USD0.4, in line with estimates. The company guided gold production for 2023 to be 3.24m to 3.44m ounces, with total cash costs and all-in sustaining costs forecast at USD840-USD890/oz and USD1,140-USD1,190/oz, respectively.

The updated market consensus of the EPS growth in FY23/24 is -8.9%/18.6%, respectively, which translates to 28.8x/24.3x forward PE. Bloomberg consensus average 12-month tp is USD59.83.