Agnico Eagle Mines Ltd T.AEM

Some analysts are bullish on AEM

[Stakhano]

These two commentaries were published recently on the FP Trading Desk. Wellington West bullish on Agnico-Eagle and Crystallex Wellington West Capital Markets analyst Catherine Gignac has reiterated her “buy” rating and $55 price target on shares of Agnico-Eagle Mines Ltd. (AEM/TSX, AEM/NYSE), due to the potential for increases in its reserves as the company aggressively explores in Finland, Mexico and Quebec. Agnico could triple its gold production from 250,000 ounces in 2006, to 850,000 ounces by 2009, she said in a research note. “The company’s steady operating success and the positive outlook for the metal markets should assist in achieving their growth strategy,” she said, adding that the company has four projects in the construction phase and another at the feasibility stage. Ms. Gignac also left unchanged her “strong buy” rating for “risk-oriented investors” and $10 target price on shares of Crystallex International Corp. (KRY/TSX,KRY/AMEX) following the company’s announcement last week that Gordon Thompson would replace Todd Bruce as its president and chief executive. She noted Mr. Thompson’s extensive project financing skills, which may come in handy given the fact that Crystallex could need as much as US$325-million in new capital for development of the giant Las Cristinas gold project in Venezuela, if a final mining permit is obtained. While the Venezuelan government appears in support of the “multi-million ounce” project, Ms. Gignac notes that it has a much different timeline than that of North American capital markets. Time delays and inaccurate reports in Venezuela’s media has led to unusual share price volatility, which has surely frustrated many investors. Jonathan Ratner [e-mail] Published Monday, February 05, 2007 12:15 PM also : Bullish on Agnico-Eagle Analysts continue to show their bullishness for shares of Agnico-Eagle Mines Ltd. (AEM/TSX, AEM/NYSE). RBC Capital Markets’ Michael Curran has reiterated his $53 price target for shares in the mining company ahead of its fourth quarter and full-year 2006 results, due out after markets close on Feb. 21. In order to meet Agnico’s 2006 gold output guidance of 250,000 ounces, Mr. Curran is forecasting an increase in gold output from the company’s LaRonde mine in Quebec. He expects fourth quarter earnings per share will come in at 31¢, which is only slightly ahead of the previous quarter. Wellington West Capital Markets analyst Catherine Gignac also recently confirmed her “buy” rating and $55 price target on the stock. Jonathan Ratner [e-mail] Posted Tuesday, February 06, 2007 8:30 AM by Jonathan Ratner | 1 Comments https://communities.canada.com/nationalpost/blogs/tradingdesk/default.aspx