National Bank analyst National Bank maintained a Buy rating on Agnico Eagle (AEM) yesterday and set a price target of C$130.00. The company’s shares closed last Monday at $82.47, close to its 52-week high of $84.66.
Currently, the analyst consensus on Agnico Eagle is a Strong Buy with an average price target of $83.79, implying a 2.2% upside from current levels. In a report issued on August 4, Industrial Alliance Securities also initiated coverage with a Buy rating on the stock with a C$135.00 price target.
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Based on Agnico Eagle’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $557 million and net profit of $105 million. In comparison, last year the company earned revenue of $527 million and had a net profit of $27.77 million.
Based on the recent corporate insider activity of 213 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.
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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.
