Analysts Set Agnico Eagle Mines Limited Price Target at $71.56

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Agnico Eagle Mines ($TSX:AEM) Limited is a gold mining company with operations in Canada, Finland, and Mexico. Analysts have set a price target of $71.56 for the stock. The average rating given to the stock by the ratings firms is “Moderate Buy.”

The company has a strong balance sheet and is well-positioned to weather the current economic downturn. Agnico Eagle Mines is a good long-term investment for investors looking for exposure to the gold mining sector.

Share Price

Agnico Eagle Mines Limited is a gold producer with operations in Canada, Finland and Mexico, and exploration and development activities in the United States. On Friday, Agnico Eagle Mines stock opened at CA$61.2 and closed at CA$58.6, a drop of 5.7% from the prior closing price of CA$62.1. This was in line with the negative media sentiment surrounding the company, which has been mostly negative in recent months. Despite the recent drop in share price, analysts still believe that Agnico Eagle Mines is a good long-term investment, with a price target of $71.56.

VI Analysis

AGNICO EAGLE MINES is a gold mining company with operations in Canada, Finland and Mexico. The company’s fundamentals reflect its long term potential. According to the VI Risk Rating, AGNICO EAGLE MINES is a medium risk investment in terms of financial and business aspects. The VI App has detected 2 risk warnings in income sheet, balance sheet.

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Summary

Agnico Eagle Mines Limited is a gold mining company with mines and projects in Canada, Finland, Mexico and the United States. The Company’s segments include Northern Business Unit, Southern Business Unit and Corporate. The Company’s Northern Business Unit consists of its operations in Northern Quebec, including the LaRonde mine, the Goldex mine, the Canadian Malartic mine and the La India mine. The Company’s Southern Business Unit consists of its operations in Mexico, including the Pinos Altos mine and the Creston Mascota deposit.

The Company’s Corporate includes exploration activities and expenditures not directly attributable to any particular operating segment. The Company operates through its subsidiaries, including Eldorado Gold Corporation, Malartic GP Inc. and Malartic Holdings Inc.