Agnico-Eagle: Trying To Soar While Facing Strong Headwinds
Thu, May 12, 7:19 PM
- BMO Capital becomes more bullish on precious metals, as it upgrades six gold and silver stocks including five to buy ratings.
- The 20% YTD rise in gold and silver prices should continue over the medium term, the firm says, lending to price targets of $1,400/oz. for gold and $22.50/oz. for silver by the end of Q1 2017.
- BMO upgrades Yamana Gold (NYSE:AUY), Silver Wheaton (NYSE:SLW), Coeur Mining (NYSE:CDE), Pan American Silver (NASDAQ:PAAS) and Detour Gold (OTCPK:DRGDF) to Outperform from Market Perform, and hikes Oceana Gold (OTCPK:OCANF) to Market Perform from Underperform; price targets are $5.50 for AUY (raised from $1), $24 for SLW (jumping from $4.50), $11 for CDE (up from $3), and $19 for PAAS (from $7.50).
- However, the firm downgrades Agnico-Eagle Mines (NYSE:AEM), Franco-Nevada (NYSE:FNV) and Fortuna Silver (NYSE:FSM) to Market Perform from Outperform, saying their stocks already have factored in higher gold and silver prices.
Thu, Apr. 28, 5:06 PM
Wed, Apr. 27, 5:35 PM
- ABAX, ACHC, AEM, AIV, AJG, ALDR, ALGN, AMCC, AMGN, AMZN, ARII, ATEN, ATHN, ATR, ATRC, AZPN, BCOV, BGS, BIDU, BMRN, BOOM, BRKS, BVN, CATM, CENX, CHDN, CHE, CHMT, CLD, CLW, COHR, COLM, COWN, CPHD, CPT, CUBE, DDR, DGII, DLR, ECOL, EHTH, ELLI, EMN, EPAY, EPR, ESS, EXLS, EXPE, EYES, FET, FII, FLEX, FLS, FPO, GB, GILD, GIMO, GNW, GRPN, HELE, HIG, HT, HTH, HURN, HWAY, INVA, IPHI, ISBC, JNPR, KBR, KRG, LEG, LNKD, LOGM, LPLA, MATW, MMSI, MOBL, MOH, MSA, MSCC, N, NATI, NFG, NPTN, NR, NSIT, NSR, NUS, OFIX, OMCL, OUTR, P, PCCC, PDFS, PFG, PODD, PXLW, QLIK, RGA, RGC, ROVI, RRC, RSG, SCSS, SGEN, SHOR, SKYW, SMCI, SNMX, SPN, SPNC, SRCL, STRZA, SWKS, SYNA, TEP, TLGT, TMST, TNDM, TRMB, TXTR, VCRA, VDSI, VGR, VR, VRSN, WDC, YRCW
Mon, Apr. 18, 11:28 AM
- Silver Wheaton (SLW -0.8%) and Agnico-Eagle Mines (AEM -1.2%) are downgraded to Neutral from Overweight at J.P. Morgan after shares have jumped a respective 52% and 44% since Jan. 19.
- The firm says SLW’s rising exposure to silver in a weakening industrial environment is a negative, and that shares likely will remain under pressure until the CRS tax audit issue has been resolved.
- JPM says AEM is fully valued for now but that the miner’s focus on long-term reserve replacement and projects is the best approach for the long term, and that exploration efforts have yielded strong results.
- Now read Silver Wheaton: The audit is very concerning
Mon, Apr. 11, 12:39 PM
- Gold miners are surging amid higher gold prices and a positive research note from RBC Capital, as the Market Vectors Gold Miners ETF (GDX +4.9%) powers higher with all 39 of its equity components rising.
- Kinross Gold (KGC +6.9%) and AngloGold Ashanti (AU +4.9%) are upgraded to Outperform at RBC, citing valuation amid an increase in the firm's 2016 gold price outlook to $1,250/oz. from $1,150; the firm says KGC's production profile has improved with the 2015 acquisition of mines from Barrick Gold (ABX +5.6%) and the planned Tasiast expansion, while AU represents the most robust opportunity in its South African coverage, supported by a diverse, low cost asset portfolio.
- Goldcorp (GG +3.8%) is sharply higher despite RBC's downgrade to Underperform, as the firm believes shares trade at a significant premium to Tier 1 peers and management needs to re-establish investor confidence in operations and strategy.
- Also: NEM +5.7%, AEM +4.9%, FNV +2.9%, HMY +3.8%, EGO +7.9%, NG +7.6%, HL +4.4%, GFI +3.1%, GOLD +1.7%, SBGL +6%, SLW +4.2%.
- Other ETFs: NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
- Now read Kinross Gold: Analyst estimates following the news on Tasiast mine expansion
Mon, Mar. 28, 3:41 PM
- Agnico-Eagle Mines (AEM -0.1%) is downgraded to Neutral from Buy with a $36 price target at UBS on valuation, as the firm views AEM as one of the top quality gold miners given its stable production, costs and free cash flow, as well as its low geopolitical and operating risk.
- While 2016 production guidance was slightly weaker than expected, 2018 guidance of 1.5M oz. was better than expected, and AEM notes it could be improved upon by using excess capacity in several of its mills; with a continued focus on exploration, the firm thinks AEM has opportunities to add to the production pipeline, especially in Nunavut.
- UBS also downgrades Goldcorp (GG +0.1%) and Franco-Nevada (FNV -0.6%) to Neutral from Buy.
Tue, Feb. 16, 3:49 PM
- Gold prices tumbled to their sharpest single-session loss since March 2015, based on most-active contracts, as investors turned more optimistic on the global economy after stock markets rallied and the European Central Bank said it stood ready to boost stimulus measures if needed.
- Adding to gold's decline was a report from Goldman Sachs commodities chief Jeffrey Currie, who said it is time to bet against the traditional safe haven as investor fears are overdone and do not justify the recent rally.
- "On net, fears around China, oil and negative interest rates have likely been overstated in the gold price and other financial markets," Currie says, doubling down on an earlier prediction that gold will slump to $1,100/oz. in three months and $1,000/oz. in 12 months.
- ABX -5.2%, NEM -5.1%, GG -5.5%, AEM -4.1%, SLW -2.9%, KGC -9.5%, NG -5.8%, AU -10.1%, FNV -3.8%, GFI -10.7%, HMY -5.3%, SBGL -11.6%, IAG -10.7%, GOLD -6.5%, EGO -10.5%, AUY -7.1%, HL -7.7%.
- ETFs: GLD, SLV, GDX, NUGT, IAU, AGQ, GGN, CEF, PSLV, DUST, SIL, PHYS, USLV, SIVR, SGOL, ZSL, UGL, GLDX, DGP, GTU, SPPP, GLL, UGLD, DZZ, SLVO, GLDI, SGDM, DSLV, ASA, OUNZ, SLVP, DGL, DBS, GLTR, RING, DGZ, DGLD, DBP, WITE, PSAU, TGLDX, USV, GEUR, GYEN, JJP, UBG, GDXS, GDXX
Thu, Feb. 11, 3:27 PM
- Gold stocks (GDX +7.8%) power higher as April gold futures jumped by $53.20/oz., or +4.5%, to settle at $1,247.80, the highest level since February 2015 and the biggest one-day dollar and percentage gain since September 2013, as investors sought safe-haven assets amid the global equity market rout.
- A growing universe of government bonds with negative yields has helped gold, while a lower U.S. dollar has made it cheaper for buyers in other currencies to purchase gold.
- Investor sentiment “seems to be thawing at the start of 2016, with a focus on gold’s wealth preservation and risk diversification properties,” the World Gold Council says.
- ABX +4.8%, GG +4.4%, AEM +8.7%, SLW +6.3%, KGC +14.2%, NG +6.2%, AU +7.4%, FNV +6.8%, GFI +10.8%, HMY +15.1%, SBGL +16%, IAG +12.3%, GOLD +4%, EGO +14%, AUY +9%, BTG +15.2%, HL +8.8%.
- ETFs: GLD, SLV, NUGT, IAU, AGQ, GGN, PSLV, DUST, SIL, PHYS, USLV, SIVR, SGOL, ZSL, UGL, GLDX, DGP, GTU, GLL, UGLD, DZZ, SLVO, GLDI, SGDM, DSLV, ASA, OUNZ, SLVP, DGL, DBS, RING, DGZ, DGLD, PSAU, TGLDX, USV, GEUR, GYEN, UBG, GDXS, GDXX, QGLDX
Thu, Feb. 11, 9:13 AM
- Gainers: DDD +15%. AG +14%. FSM +13%. TRIP +12%. MUX +11%. AUY +11%. SBGL +11%. GFI +10%. AGI +10%. LC +10%. GG +10%. CDE +9%. EGO +9%. KGC +9%. HMY +9%. IAG +9%. EXPE +8%. ABX +8%. NEM +8%. SLW +8%. SSRI 8%. AU 7%. AEM 7%. HL 7%. NG 7%. CSCO 6%. SKX 5%.
- Losers: FLO -18%. INCY -15%. SFL -13%. MYL -13%. BTU -13%. ZNGA -13%. SNOW -11%. IFF -10%. ELMD -9%. AVP -8%. CS -7%. BCS -7%. SUNE -6%. CIG -5%. TWTR -6%.
Wed, Feb. 10, 10:50 PM
Tue, Feb. 9, 5:35 PM
- AEL, AEM, AFFX, ANDE, APDN, BGC, BRKR, CDE, CGNX, CLW, CNO, CSCO, CSOD, CTL, CUZ, CXW, CYS, EFX, ENSG, EXPE, FLO, FMC, FNF, FORR, GHDX, GPRE, HDP, HNI, HUBS, IFF, IO, IRBT, JCOM, KGC, LGND, LOCK, LPSN, MOSY, MYL, NSIT, O, OHI, OII, ORLY, PPC, PRI, PRU, PXD, QUIK, REG, RYN, SB, SCI, SKX, TCO, TSLA, TTGT, TWTR, VNDA, WFM, ZNGA
Wed, Feb. 3, 5:33 PM
- Mining companies that have been hit hard by weakening Chinese demand surged the most in five months today, as a rally in metal prices signaled production cuts are starting to pay off, Bloomberg reports.
- Newmont Mining (NEM +11.3%), Freeport McMoRan (FCX +11.2%) and First Quantum Minerals (OTCPK:FQVLF +16.6%) all gained at least 11% today in leading the Bloomberg Americas Mining Index to a 7% surge and its biggest increase since August.
- Gold futures broke above their 200-day MA for the first time since October, and zinc, copper, aluminum, nickel, lead and tin all gained, helped by the outlook for tighter supplies and a plunge in the dollar.
- In today's trade: ABX +8.8%, GG +10.2%, AEM +5.5%, SLW +8.7%, KGC +10.3%, NG +6.6%, AU +9.6%, FNV +7%, GFI +8.5%, HMY +5.1%, SBGL +6.1%, IAG +9.6%, GOLD +3.6%, EGO +8.3%.
- ETFs: GLD, GDX, NUGT, IAU, GGN, DUST, PHYS, SGOL, UGL, GLDX, DGP, GTU, GLL, JJC, UGLD, DZZ, DBB, SGDM, ASA, OUNZ, DGL, DGZ, RING, DGLD, JJN, PSAU, JJU, TGLDX, CPER, UBG, JJT, BOM, RJZ, BOS, FOIL
Thu, Jan. 7, 6:38 PM
- Gold and silver miners are the lone rose growing in this week's stock market garbage heap, as the out-of-favor group responds to the highest gold prices in two months amid the flight to perceived safe havens.
- China’s move to devalue its currency at once stokes worries that growth in the world’s no. 2 economy is more sluggish than feared and that other Asian countries will retaliate with devaluations of their own to keep exports competitive, which could bode well for further gold price upside.
- This week's results so far for top precious metals miners: HMY +53.7%, ABX +18.4%, IAG +14.3%, AEM +14.1%, GFI +13.2%, AUY +12.9%, SBGL +12.8%, AU +11.2%, EGO +10.8%, GG +10.1%, KGC +9.9%, FNV +7.9%, GOLD +6.1%, NEM +4.9%, SLW +4.6%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, PICK, GDXS, GDXX
Oct. 28, 2015, 5:14 PM
- Agnico Eagle (NYSE:AEM): Q3 EPS of $0.18 beats by $0.16.
- Revenue of $508.8M (+9.8% Y/Y) beats by $29.83M.
Oct. 27, 2015, 5:35 PM
- ABX, ACGL, AEM, AF, AFFX, AFOP, AMGN, ANIK, AR, ARII, ARRS, ASGN, ATML, BANC, BLKB, BWLD, CACI, CAVM, CBL, CGI, CHDN, CLI, CMO, CMPR, CNL, CNO, CNW, CRUS, CSGP, CW, CWT, DRE, DYAX, ECHO, ELLI, EPR, EQIX, EQY, ESIO, ESRT, ESV, EXR, FFIV, FMC, FORM, FORR, FR, GPRO, HBI, HLS, HOS, HT, HUBG, HY, INT, INVN, ISIL, KEX, KRA, KS, LNC, LOCK, LOPE, MAA, MANT, MAR, MC, MEOH, MMLP, MTGE, MTW, MUR, NE, NEM, NGD, NSIT, NTRI, NVDQ, NXPI, O, OCN, OGS, OII, ORLY, OTEX, PLXS, PPC, PRXL, PSA, PTC, QDEL, QEP, QGEN, QUIK, REG, ROG, ROVI, RRC, SCI, SGI, SGMO, SIMO, SPN, SPRT, SPWR, SSS, STAA, SU, TAL, THG, THRX, TILE, TLLP, TSO, TTMI, UNM, VAR, VECO, VRTX, WDC, WES, WGP, WLL, WMB, WSTL, WTS, YELP
Oct. 14, 2015, 2:26 PM
- Gold settles at three-and-a-half month highs, rallying $14.50 (+1.2%) to $1180/oz., as soft U.S. economic data and concerns over deflationary pressures in China add to expectations the Fed will delay any interest rate increases.
- Gold is gaining more ground in electronic trading after the Fed Beige Book release.
- The yellow metal's eighth gain in nine sessions has sent the SPDR Gold Trust ETF (GLD +1.5%) past its 200-day moving average, and gold miners have ripped higher, as evidenced by this month's 18% gain in the Market Vectors Gold Miners ETF (GDX +5.6%).
- Top mining stocks including Barrick Gold (ABX +7.9%), Goldcorp (GG +8.5%), Kinross Gold (KGC +8.3%), Gold Fields (GFI +5.4%), Newmont Mining (NEM +5.4%), Agnico Eagle Mines (AEM +5.7%), Silver Wheaton (SLW +6.8%), Yamana Gold (AUY +6.7%), Franco Nevada (FNV +5%), Randgold (GOLD +4.8%) and AngloGold (AU +5.6%) are all sharply higher.
- Other ETFs: NUGT, AGQ, GGN, DUST, SIL, USLV, ZSL, UGL, GLDX, DGP, GLL, UGLD, DZZ, SLVO, GLDI, SGDM, DSLV, ASA, SLVP, DGL, DBS, DGZ, RING, DGLD, PSAU, USV, TGLDX, GEUR, UBG, GYEN
Agnico Eagle Mines Ltd. engages in the exploration, development and production of gold mineral properties. It operates through three segments: Northern Business, Southern Business and Exploration. The Northern Business segment comprised of LaRonde mine, Lapa mine, Goldex mine, Meadowbank mine,... More
Sector: Basic Materials
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