Agnico Eagle Mines Nears 0.5 Gain on Canaccord Upgrades Trading 391st by 0.27B Volume

On August 15, 2025, Agnico Eagle Mines (AEM) closed with a 0.47% gain, trading at a volume of 0.27 billion shares, ranking 391st in market activity. Recent developments highlight renewed institutional confidence in the gold miner following two separate price target upgrades by Canaccord analysts. On July 31, the firm raised its price target for AEM to C$215 from C$210, citing strong second-quarter performance. The company reported $2.82 billion in revenue, a 35.61% year-over-year increase, alongside $1.94 in adjusted earnings per share, both exceeding expectations. Free cash flow more than doubled to $1.3 billion, driven by record gold production of 866,029 ounces at an average cash cost of $911 per ounce. Canaccord reiterated its Buy rating, emphasizing AEM’s strategic focus on high-quality assets in Canada, Australia, and Mexico.

A second Canaccord analyst raised the price target to $152.68 from $143.23 on July 23, reinforcing optimism around AEM’s operational and financial momentum. The firm highlighted AEM’s $100 million share repurchases, $550 million in debt reductions, and a revised production guidance of 3.3–3.5 million ounces of gold at $915–$965 per ounce cash costs. Key contributors to the results included record throughput at the Detour mine and progress on projects such as Odyssey, Macassa, and Hope Bay, which are expected to expand long-term capacity. Analysts noted that AEM’s ability to balance cost control with growth initiatives positions it favorably in a sector grappling with inflationary pressures and supply chain challenges.

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