GARP Research Maintains a 'Buy' on Agnico-Eagle Mines (AEM); Solid Qtr, After Terrible 2011
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Price: $186.46 +3.38%
Rating Summary:
13 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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GARP Research maintains a 'Buy' on Agnico-Eagle Mines Ltd. (NYSE: AEM) price target of $39.00.
Analyst, Seth Dadds, said, "We believe 2011 may mark a low-point for Agnico, and we remain optimistic its current project pipeline can drive gold production to over 1.3 million ounces in 2015 and 1.7 million ounces by 2017. Most of the earlystage commissioning issues experienced over the last few years have been ironed out and we see further room to reduce costs and expand margins. Although it’s not in our model, we think there’s a remote chance that the Shuttered Goldex mine may resume operations, albeit at reduced capacity. Using our $1,950 gold target, we see operating profitability rising from 28% in 2011 to 38% by 2014, with EPS jumping 80% to $3.05."
For an analyst ratings summary and ratings history on Agnico-Eagle Mines Ltd. click here. For more ratings news on Agnico-Eagle Mines Ltd. click here.
Shares of Agnico-Eagle Mines Ltd. closed at $39.36 yesterday.
Analyst, Seth Dadds, said, "We believe 2011 may mark a low-point for Agnico, and we remain optimistic its current project pipeline can drive gold production to over 1.3 million ounces in 2015 and 1.7 million ounces by 2017. Most of the earlystage commissioning issues experienced over the last few years have been ironed out and we see further room to reduce costs and expand margins. Although it’s not in our model, we think there’s a remote chance that the Shuttered Goldex mine may resume operations, albeit at reduced capacity. Using our $1,950 gold target, we see operating profitability rising from 28% in 2011 to 38% by 2014, with EPS jumping 80% to $3.05."
For an analyst ratings summary and ratings history on Agnico-Eagle Mines Ltd. click here. For more ratings news on Agnico-Eagle Mines Ltd. click here.
Shares of Agnico-Eagle Mines Ltd. closed at $39.36 yesterday.
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