#3 - Agnico Eagle Mines (NYSE:AEM)
The third company on this list also happens to be the third-largest gold producer. At the end of 2022, Agnico Eagle Mines Ltd (NYSE: AEM) had 48.7 million ounces of gold reserves. The company has six active projects to go along with an exploration pipeline that includes three advanced-stage projects.
Like many mining companies, Agnico Eagle Mines reported lower year-over-year earnings per share even as YOY revenue was higher in every quarter. But as the environment for mining becomes more favorable, 2023 is likely to be a better year for the company.
Analysts agree. Agnico Eagle has a Buy rating among the six analysts that report to MarketBeat. The price target of $59.20 is approximately 14.5% above the current AEM stock price. Along with that, Agnico has a proven track record of delivering added value for its shareholders. The company has issued a dividend for the last 39 years and has an attractive dividend yield of 3.09%.
About Agnico Eagle Mines
Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.
Read More - Current Price
- $78.16
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $86.78 (11.0% Upside)
