Agnico Eagle resumed with an Outperform at BMO Capital

BMO Capital resumed coverage of Agnico Eagle with an Outperform rating and price target of $60, up from $57. The acquisition of Yamana’s Canadian assets is completed, which strengthens Agnico’s "already-dominant" position in the prolific Abitibi region, the analyst tells investors in a research note. The firm expects investors will be attracted to the company’s "safe geopolitical risk, clear growth strategy, and low-risk opportunities for optimization."