In a new note to investors on May 11, an analyst has provided a rating update for Agnico Eagle Mines (AEM). Desjardins’ analyst Josh Wolfson reiterates their Hold rating on the shares, with a C$63 price target.
According to TipRanks.com, Wolfson is a 3-star analyst with an average return of 1.8% and a 53.3% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Osisko Gold Royalties Ltd, and Barrick Gold Corporation.
Currently, the analyst consensus on Agnico Eagle Mines is a Moderate Buy with an average price target of C$65.
Based on Agnico Eagle Mines’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$49.23 million. In comparison, last year the company had a net profit of C$56.83 million.
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 company’s shares closed on Tuesday at C$55.88.
