BMO Capital has resumed its coverage of Agnico Eagle Mines Ltd. (AEM, Financial), assigning an Outperform rating and setting a price target of $181. The investment firm highlights the company's ability to deliver reliable, high-margin gold production from stable geographic regions, which contributes to substantial free cash flow.
Despite a currently stable production profile and limited catalysts in the short term, Agnico Eagle's management is focused on pursuing several high-return opportunities. These initiatives are expected to enhance the company's growth prospects and potentially bolster its stock valuation in the future.
