New Buy Rating for Agnico Eagle (AEM), the Basic Materials Giant

RBC Capital analyst Josh Wolfson maintained a Buy rating on Agnico Eagle (AEM – Research Report) on April 19 and set a price target of $60.00. The company’s shares closed yesterday at $62.26.

Wolfson covers the Basic Materials sector, focusing on stocks such as Barrick Gold, Franco-Nevada, and Gold Fields. According to TipRanks, Wolfson has an average return of 4.3% and a 62.33% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Agnico Eagle with a $67.02 average price target, which is a 7.65% upside from current levels. In a report released on April 19, Stifel Nicolaus also maintained a Buy rating on the stock with a C$104.00 price target.

AEM market cap is currently $31.94B and has a P/E ratio of 16.07.

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Agnico Eagle (AEM) Company Description:

Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine. The Southern Business segment consists of Pinos Altos mine, Creston Mascota mine, and La India mine. The Exploration segment represents the exploration offices in the United States, Europe, Canada, and Latin America. The company was founded by Paul Penna on June 1, 1972 and is headquartered in Toronto, Canada.