Canaccord Raised the Firm's PT on Agnico Eagle Mines Limited (AEM), Kept a Buy Rating

Agnico Eagle Mines Limited (NYSE:AEM) is one of the Best Performing Canadian Stocks So Far in 2025. On July 31, Canaccord raised the firm’s price target on Agnico Eagle Mines Limited (NYSE:AEM) from C$210 to C$215, while maintaining a Buy rating on the stock.

Canaccord raised the firm’s price target on the stock after the company reported its second-quarter results for 2025. Agnico Eagle Mines Limited (NYSE:AEM) delivered $2.82 billion in revenue, up 35.61% and ahead of expectations by $115.07 million. Moreover, the EPS of $1.94 also exceeded expectations by $0.14. Management noted that its high-quality assets generated record free cash flow, which more than doubled when compared to the previous quarter.

The company produced 866,029 ounces of payable gold at production costs of $911 per ounce. Management noted that this production was led by key mines including Canadian Malartic, LaRonde, Macassa, and Fosterville. The company has maintained its guidance of 3.3 to 3.5 million ounces of gold production, with total cash costs expected between $915 and $965 per ounce.

Agnico Eagle Mines Limited (NYSE:AEM) is a senior gold mining company headquartered in Canada, with operations in Canada, Australia, Finland, and Mexico.

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Disclosure: None. This article is originally published at Insider Monkey.