CIBC Boosts Agnico Eagle (AEM) Target on Strong Gold Price Forecast

Agnico Eagle Mines Limited (NYSE:AEM) ranks among the best high growth high margin stocks to buy now. On February 4, CIBC raised its price target for Agnico Eagle Mines Limited (NYSE:AEM) to $296 from $231 while maintaining an Outperform rating on the company’s shares. The boost came as the firm lifted its targets over the precious metals group after raising its gold price projections to $6,000 per ounce in 2026 and $6,500 in 2027. According to the firm, similar demand factors as in 2025 will continue to exist in 2026, though there is more geopolitical instability.

Meanwhile, on January 29, JPMorgan began coverage of Agnico Eagle Mines Limited (NYSE:AEM) with a Neutral rating and a $248 price target, dubbing it the world’s second largest gold mining company, with production estimated to be about 3.4 million ounces this year.

The firm cited management’s history of operational competence, calling Agnico Eagle Mines Limited (NYSE:AEM) a “reliable, low-risk vehicle to gain leverage to gold” that has a 95% correlation over a decade.

Agnico Eagle Mines Limited (NYSE:AEM), a global gold producer, operates mines across Canada, Australia, Finland, and Mexico.

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