Agnico Eagle Gets a Buy Rating from TD Securities

By Carrie Williams

TD Securities analyst Greg Barnes reiterated a Buy rating on Agnico Eagle (NYSE: AEM) yesterday and set a price target of $56. The company’s shares opened today at $41.36.

According to TipRanks.com, Barnes is a 1-star analyst with an average return of 0.0% and a 45.4% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Franco Nev Corp, Barrick Gold, and Cameco Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Agnico Eagle with a $55 average price target, implying a 33.0% upside from current levels. In a report issued on July 30, RBC Capital also upgraded the stock to Buy with a $55 price target.

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Agnico Eagle’s market cap is currently $9.77B and has a P/E ratio of 62.51. The company has a Price to Book ratio of 1.98.

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