Credit Suisse Reiterates a Buy Rating on Agnico Eagle

By Ryan Adsit

In a report issued on November 23, Anita Soni from Credit Suisse reiterated a Buy rating on Agnico Eagle (NYSE: AEM), with a price target of $69. The company’s shares opened today at $40.55.

According to TipRanks.com, Soni is a 1-star analyst with an average return of -3.6% and a 32.7% success rate. Soni covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, Detour Gold Corporation, and Silver Wheaton Corp.

Agnico Eagle has an analyst consensus of Strong Buy.

Based on Agnico Eagle’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $611 million and quarterly net profit of $49.39 million. In comparison, last year the company earned revenue of $509 million and had a net profit of $1.29 million.

Agnico Eagle Mines Ltd. engages in the exploration, development and production of gold mineral properties. The company was founded by Paul Penna on June 1, 1972 and is headquartered in Toronto, Canada.