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Canaccord Genuity Sticks to Their Buy Rating for Agnico Eagle (AEM)

In a report released today, Carey MacRury from Canaccord Genuity maintained a Buy rating on Agnico Eagle (AEMResearch Report), with a price target of C$91.00. The company’s shares closed today at $41.91.

According to TipRanks, MacRury is a 5-star analyst with an average return of 12.2% and a 57.33% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Agnico Eagle, Eldorado Gold, and Wheaton Precious Metals.

Currently, the analyst consensus on Agnico Eagle is a Strong Buy with an average price target of $62.48, which is a 49.08% upside from current levels. In a report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a C$89.00 price target.

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The company has a one-year high of $66.01 and a one-year low of $37.66. Currently, Agnico Eagle has an average volume of 3.09M.

Based on the recent corporate insider activity of 76 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.

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