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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (91643)	8/5/2020 11:56:20 AM
From: kidl	Read Replies (3) of 202399

Globe says new coverage rates Agnico Eagle "strong buy" Agnico Eagle Mines Ltd (C:AEM) Shares Issued 242,321,330 Last Close 8/4/2020 $108.62 Wednesday August 5 2020 - In the News The Globe and Mail reports in its Wednesday, Aug. 5, edition that Industrial Alliance Securities analyst Puneet Singh says Agnico Eagle Mines is an "expanding gold producer on the cusp of truly breakout out." The Globe's David Leeder writes in the Eye On Equities column that Mr. Singh commenced coverage with a "strong buy" rating, seeing a "rare chance to buy laggard shares" in a rising gold market. Mr. Singh set a share target of $135. Analysts on average target the shares at $105.02. Mr. Singh says in a note: "Gold prices are in record high territory but Agnico is still lagging peer returns over the past year, and hasn't garnered the relative premium valuation it deserves with its lower risk portfolio. This is starting to reverse as investors see recent operational challenges being overcome, expecting a much stronger H2/20 and see near-term production expansions (mainly in Nunavut) take shape that will boost production to two million ounces or more starting next year. ... We believe gold prices still have a multi-year runway higher ahead of them. ... We are strongly recommending investors buy this well-run, growing, low country risk senior gold producer now as it won't be a laggard for long." © 2020 Canjex Publishing Ltd.

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