#1 - Agnico Eagle Mines (NYSE:AEM)
One attribute to look for in any equity, but in precious metals stocks in particular, is a high floor. That’s a solid reason to look at Agnico Eagle Mines (NYSE:AEM). The company trades at a premium compared to other mining stocks. However, the company is widely seen as carrying a high upside with minimal risk to the downside.
But sound management is not the only one to consider the stock. Another catalyst for AEM stock is its pending mergerwith Kirkland Lake Gold (NYSE:KL). When the merger is complete, Agnico will be the third largest miner behind only Newmont Corporation and Barrick Gold.
This Canadian company has been mining gold and other precious metals since 1957. Analysts give the stock a consensus price target of $91.07 which gives the stock an upside of nearly 60% from its present price. The company has declared a dividend every year since 1983. The company’s annual dividend (paid quarterly) as of this writing is $1.40 which comes out to a yield of $2.46%.
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
- $82.75
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $86.78 (4.9% Upside)
