Analyst ratings for Agnico
Of the 18 analysts covering Agnico Eagle Mines (AEM), 50% have recommended “buy,” 44% have recommended “hold,” and 6% have recommended “sell.” Among mining peers (RING) (GDX), AEM has more “buy” recommendations than Yamana Gold (AUY), Barrick Gold (ABX), and Kinross Gold (KGC), and fewer than Newmont Mining (NEM) and Goldcorp (GG).
Agnico’s stock has seen a number of rating changes and target price changes in recent months. TD Securities upgraded the stock from “hold” to “buy” on February 28, 2018. TD analyst Greg Barnes sees the company’s potential growing as its projects are developed. He added that as Meliadine and Amaruq projects are de-risked, investors should return to this stock.
On February 21, 2018, GMP Securities downgraded AEM’s stock from “buy” to “hold.” The company cited its rich valuation as the main reason for the downgrade.
National Bank Financial downgraded AEM stock on February 16, 2018, from “outperform” to “sector perform.” Royal Bank of Canada lowered AEM’s target price from $52 to $48 on March 12, 2018. Citigroup (C) also lowered its target price for AEM, from $46 to $41 on March 1, 2018. The company has recommended “hold” for the stock.