RBC Capital Sticks to Their Hold Rating for Agnico Eagle

By Jason Carr

RBC Capital analyst Stephen Walker reiterated a Hold rating on Agnico Eagle (NYSE: AEM) on March 12 and set a price target of $48. The company’s shares opened today at $39.80.

According to TipRanks.com, Walker is a 5-star analyst with an average return of 10.8% and a 51.9% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Novagold Resources Inc New.

Currently, the analyst consensus on Agnico Eagle is Moderate Buy and the average price target is $51.80, representing a 30.2% upside.

In a report issued on March 1, Citigroup also maintained a Hold rating on the stock with a $41 price target.

Based on Agnico Eagle’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $565 million and quarterly net profit of $35.1 million. In comparison, last year the company earned revenue of $499 million and had a net profit of $62.65 million.

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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.