Dundee with a big price target upgrade. Others likely to follow as it gets to the mid $50's...
A recent site visit to Agnico-Eagle Mines Ltd.’s flagship La Ronde mine has Dundee Securities analyst Ron Stewart turning more bullish on the stock. “The La Ronde mine is impressive by any measure. Geologically, it is one of the most well endowed gold-rich volcanogenic massive sulphide deposits anywhere in the world,” he commented.
Excellent companies have high-calibre management and world-class assets, while having the capacity to persevere and emerge stronger when inevitable setbacks arrive, Mr. Stewart said. “Agnico-Eagle demonstrates these characteristics and is well on the way to reclaiming its position as an industry leader in the precious metals space.”
Upside: Mr. Stewart raised his price target to $70 (Canadian) from $57, and affirmed a “buy, high risk” rating.