Equity Analyst Kristoffer Inton of Morningstar says Agnico Eagle Mines Ltd (USA) (AEM) is well-positioned for meaningful production growth in 2015, and is a miner investors should be looking at.
“We also like Agnico Eagle. Agnico Eagle doesn’t have the lowest costs in the industry like Eldorado does, but its costs aren’t bad at roughly $900 per ounce on an all-in sustaining cost basis. These are still some of the lower costs in our coverage universe,” Inton said.
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Inton expects Agnico to produce approximately 1.6 million ounces in 2015, compared to 1.1 million ounces last year.
“[This is] largely driven by the jointly acquired Canadian Malartic mine and expansion at existing mines. We think Agnico Eagle, given its decent cost structure and attractive growth profile, is a miner worthy of consideration,” Inton said.
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