Agnico-Eagle Mines Ltd. (AEM.TO) has "re-established market confidence" by meeting, and in some cases exceeding, expectationsfor its first-half results, an accomplishment many of its North American peers have failed to achieve, said RBC Dominion Securitiesanalyst Stephen D. Walker in the Globe & Mail.
There's potential for modest near-term production growth and the company is generating sufficient free cash flow to fund itsnear-term growth plans, he added.
Walker raised his price target by $8 to $53 (U.S.) andmaintained a "sector perform" rating.
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