TD Securities Believes Agnico Eagle (NYSE: AEM) Won’t Stop Here

By Carrie Williams

TD Securities analyst Greg Barnes maintained a Buy rating on Agnico Eagle (AEMResearch Report) today and set a price target of $91.00. The company’s shares closed last Thursday at $75.33, close to its 52-week high of $75.68.

According to TipRanks.com, Barnes is a 1-star analyst with an average return of -1.1% and a 45.5% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Osisko Gold Royalties, and Hudbay Minerals.

Agnico Eagle has an analyst consensus of Strong Buy, with a price target consensus of $69.70, a -2.5% downside from current levels. In a report issued on July 20, Barclays also maintained a Buy rating on the stock with a $71.00 price target.

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The company has a one-year high of $75.68 and a one-year low of $31.00. Currently, Agnico Eagle has an average volume of 1.55M.

Based on the recent corporate insider activity of 239 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AEM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.