TD Securities lowered the firm’s price target on Agnico Eagle to $62 from $64 and keeps a Buy rating on the shares. The analyst updated the company’s model for its 2024-2026 guidance. Investors had been concerned that Agnico Eagle’s production would dip in 2026 and 2027 as Amaruq production ended, and management is addressing those concerns, the analyst tells investors in a research note. The firm says the company reported a number of positive operating updates with its Q4 results.
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- AGNICO EAGLE REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS – RECORD QUARTERLY AND ANNUAL GOLD PRODUCTION AND FREE CASH FLOW; RECORD MINERAL RESERVES INCREASED 10.5%; UPDATED THREE-YEAR GUIDANCE
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