Agnico Eagle Mines LimitedNYSE
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  • Apr. 14, 2015, 6:57 PM
    • The merger of equals between Alamos Gold (NYSE:AGI) and AuRico Gold (NYSE:AUQ) makes no sense for AGI shareholders, as the deal "effectively rescues" AUQ from its balance sheet troubles and provides AGI no premium in exchange, says TD Securities analyst Steven Green.
    • The deal's enterprise value of $392 for AGI vs. AUQ's EV of a bit more than $1B means the merger undervalues AGI, Green says in downgrading AGI to Hold from Buy and cuts his stock price target to $9 from $11.
    • The deal effectively puts both miners into M&A play, Green says, speculating that Agnico Eagle Mines (NYSE:AEM), Kinross Gold (NYSE:KGC) and Iamgold (NYSE:IAG) could be interested in AGI.
    | Apr. 14, 2015, 6:57 PM | 3 Comments
  • Sep. 8, 2014, 5:17 PM
    • Agnico Eagle Mines (NYSE:AEM) agrees to acquire Canadian precious metals exploration company Cayden Resources (OTCQX:CDKNF) for ~C$205M, or C$3.79/share.
    • Cayden owns, has options to acquire or has staked, concessions constituting a 100% interest in Mexico's El BarqueHo property, which contains a significant epithermal bonanza type gold vein and disseminated stockwork system, as well as other Mexican properties.
    | Sep. 8, 2014, 5:17 PM | 2 Comments
  • Apr. 23, 2014, 11:19 AM
    • Yamana Gold (AUY -0.6%) and Agnico Eagle (AEM +2%) are "clear winners" for acquiring Osisko Mining (OSKFF) because it is crucial for gold miners to secure low-risk production at this stage in the cycle, National Bank analyst Steve Parsons says.
    • It is increasingly difficult to find large gold deposits in mining friendly jurisdictions - such as Osisko's Canadian Malartic mine in Quebec - and companies need to look at obtaining those assets now or face declining production profiles in the future, Parsons says, adding that now is a good time for mid-tier miners to do business with senior producers who are busy cleaning up their balance sheets.
    • For AUY, Parsons says the addition of a low-cost, cornerstone asset should help the stock get re-rated towards its higher-multiple peers; for AEM, the deal is accretive on all metrics and adds another cornerstone asset to its already concentrated portfolio.
    | Apr. 23, 2014, 11:19 AM | 4 Comments
  • Apr. 21, 2014, 12:51 PM
    • Goldcorp (GG +0.8%) officially gives up its bid for Osisko Mining (OSKFF -0.1%), saying it will not raise its offer to acquire the company; its most recent C$3.6B offer will expire tomorrow night before midnight.
    • Yamana Gold (AUY -3.5%) and Agnico Eagle Mines (AEM -3.7%) joined forces last week for a C$3.9B offer to acquire Osisko.
    | Apr. 21, 2014, 12:51 PM | 13 Comments
  • Apr. 16, 2014, 9:51 AM
    • Yamana Gold (AUY -1.5%) and Agnico Eagle Mines (AEM -3.3%) agree to acquire Osisko Mining (OSKFF) for C$3.9B, or C$8.15/share.
    • The total offer consists of C$1B in cash, C$2.33B in AUY and AEM shares, and shares of a new company with an implied value of ~C$575M.
    • The companies say the offer represents an ~11% premium to the implied value of Goldcorp's (GG +2%) hostile bid.
    • The deal replaces a transaction announced April 2 in which AUY agreed to buy 50% of Osisko’s assets.
    | Apr. 16, 2014, 9:51 AM | 6 Comments
  • Nov. 26, 2012, 3:36 PM

    Agnico-Eagle Mines (AEM +0.9%) pushes near a 52-week high after agreeing to sell nearly 7.8M common shares of Queenston Mining (QNMNF.PK) to Osisko Mining (OSKFF.PK) for C$5.43/share, or total cash proceeds of ~$42M. Osisko's acquisition of the 9.2% stake in Queenston will be completed using available cash on hand.

    | Nov. 26, 2012, 3:36 PM
  • Sep. 19, 2011, 9:26 AM

    Agnico-Eagle Mines (AEM) will acquire Grayd Resource (GYDRF) in a deal valued at ~C$275M (US$280M), giving the Canadian gold producer an early stage project in Mexico. AEM expects to issue a maximum 2.7M shares, or about 1.4% of its shares outstanding, in the transaction. (PR)

    | Sep. 19, 2011, 9:26 AM