Thursday, Credit Suisse downgraded Agnico-Eagle Mines Ltd. (AEM.TO) shares to Neutral from Outperform and lowered its price target to $68 from $80.
Analyst Soni lowered his price target to $68 from $80 based on a decrease to his discounted cash flow, or DCF, to $37.50 from $38.52 and a revision to his target multiple to 1.8X from 2.05X. The revisions to the analyst's DCF are based on continued start up issues at each of the company's newer mines.
The analyst has made preliminary, but material revisions to his model based on third quarter of 2009 operating results and revised production guidance. The analyst would further refine his model after he seek clarification on several points on the conference call.
The analyst downgraded the stock, as his revised price target would provide insufficient return to maintained an Outperform rating, below his threshold of 15%. While the analyst does believe that these issues will be resolved, the company would likely trade at a lower multiple until progress is made on resolving these issues.
Currently, AEM.TO is down C$3.85 or 5.82% and trading at C$62.25.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.