Barclays Remains a Buy on Agnico Eagle (AEM)

Barclays analyst Matt Murphy maintained a Buy rating on Agnico Eagle (AEMResearch Report) on February 24 and set a price target of $66.00. The company’s shares closed last Friday at $51.80.

According to, Murphy is a 4-star analyst with an average return of 13.2% and a 67.5% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, First Quantum Minerals, and Southern Copper.

Agnico Eagle has an analyst consensus of Strong Buy, with a price target consensus of $70.86, implying a 37.0% upside from current levels. In a report issued on February 10, BMO Capital also initiated coverage with a Buy rating on the stock with a C$98.00 price target.

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Agnico Eagle’s market cap is currently $23.55B and has a P/E ratio of 23.31.

Based on the recent corporate insider activity of 75 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.

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