Post by
mouserman on Dec 03, 2024 9:43am
AEM rated at outperform
The Globe and Mail reports in its Tuesday, Dec. 3, edition that in a quarterly earnings review for precious metals companies titled Under Pressure, But Don't Stop Believin', CIBC World Markets analysts reaffirmed their view "Trump is good for gold." The Globe's David Leeder writes in the Eye On Equities column that analysts say in a note: "Since our last commodity update on July 8, Guess Who's Back, the market has seen a massive gold rally, the result of a combination of the long-anticipated first rate cut, and the market's realization that Trump had a shot at winning the election. 2024 has seen an unprecedented 27-per-cent increase in bullion prices year-to-date, benefitting from the Fed's overall easing cycle, geopolitical unrest/risk caused by the Israel-Hamas war and Russia-Ukraine crisis. Retail demand has picked up over the past year with global gold ETF inflows turning to the positive in Q3/24 as investors sought safe-haven assets amidst geopolitical uncertainty." CIBC analysts continue to rate Agnico Eagle Mines "outperformer." The CIBC analysts boosted their share target to $116 (U.S.) from $102 (U.S.). Analysts on average target the shares at $96.70 (U.S.).