Credit Suisse analyst Anita Soni rates gold company stock Agnico Eagle Mines as likely to “outperform” its peers and she has set a 12-month price target on this top gold stock of $38USD a share. Eight other analysts surveyed by Investor’s Digest of Canada also rate Agnico Eagle as a buy amongst the best gold stocks to invest in.
Ammar Al-Joundi has spent the last 16 years shuttling between jobs at Agnico Eagle Mines Ltd. (TSX─AEM; NYSE─AEM) and Barrick Gold Corp. (TSX─ABX; NYSE─ABX).
From July 2012 to February 2015, for example, he was Barrick’s CFO and from September 2010 to June 2012, he was Agnico’s CFO.
Moreover, before joining Agnico, Mr. Al-Joundi spent 11 years at Barrick! But as of April 6, he’s back at Agnico — this time as its president.
Mr. Al-Joundi’s corporate peregrinations don’t seem to bother Anita Soni. Ms. Soni is an analyst with Credit Suisse in Toronto. And she says Mr. Al-Joundi’s recent appointment only adds to Agnico’s bench strength.
Mr. Al-Joundi’s return to Agnico was just one of a slew of appointments this top gold stock recently made, all of which will make the company a stronger entity, Ms. Soni suggests.
In the meantime, she’s pegging Agnico at “outperform” with a 12-month price target of $38USD a share.
Tops among the best gold mining stocks to invest in
She also says the company is her top gold stock pick, given its operational consistency, strong asset base, secure balance sheet, as well as its ability to generate free cash flow, despite low prices for the metal.
Our market watchers were onside with Ms. Soni this month in her admiration for Agnico Eagle.
Of the ten other analysts we surveyed, eight rated this gold company stock a “buy” and only two, a “hold,” putting the company in eighth spot in our list of all must-have stocks.
One of Canada’s senior mining plays, Agnico Eagle boasts operations in Mexico, Finland and, of course, in Canada.
For the three months ended Dec. 31, Agnico’s net loss narrowed to US$21.3 million or a dime a share, from $780.3 million or $4.49 a share, for the similar period in 2013.
Revenue also presented a brighter picture, rising to US$503.1 million from $437.2 million.
For the year ended Dec. 31, Agnico Eagle’s net loss narrowed to US$83 million or $0.43 a share, from $686.7 million, or $3.97 a share, for the similar period in 2013. Revenue was also higher, rising to US$1.9 billion from $1.6 billion in 2013.
Investor’s Digest of Canada, MPL Communications Inc.
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