The Investor
04 Jul 2026, 09:25
Agnico Eagle (AEM) Stock Rises After Hours Despite Scotiabank Price Target Cut
Agnico Eagle Mines (NYSE: AEM) remained in focus after Scotiabank lowered its price target on the gold miner to $278 from $280 on Friday while maintaining its Sector Outperform rating.
The rating update followed a mixed trading session on Thursday, when AEM shares fell 0.64% during regular trading before recovering 0.74% in after-hours trading.
Although Scotiabank slightly reduced its price target, the unchanged Sector Outperform rating suggests the firm continues to view Agnico Eagle favorably. The revised target still implies substantial upside from current trading levels, reflecting confidence in the company's long-term outlook.
The stock has also been supported by the recent strength in gold prices. Gold rallied after weaker-than-expected U.S. labor market data increased expectations that the Federal Reserve could lower interest rates later this year. A lower-rate environment is generally positive for gold prices, which can improve earnings prospects for major gold producers such as Agnico Eagle.
Agnico Eagle Mines (NYSE: AEM) remained in focus after Scotiabank lowered its price target on the gold miner to $278 from $280 on Friday while maintaining its Sector Outperform rating.
The rating update followed a mixed trading session on Thursday, when AEM shares fell 0.64% during regular trading before recovering 0.74% in after-hours trading.
Although Scotiabank slightly reduced its price target, the unchanged Sector Outperform rating suggests the firm continues to view Agnico Eagle favorably. The revised target still implies substantial upside from current trading levels, reflecting confidence in the company's long-term outlook.
The stock has also been supported by the recent strength in gold prices. Gold rallied after weaker-than-expected U.S. labor market data increased expectations that the Federal Reserve could lower interest rates later this year. A lower-rate environment is generally positive for gold prices, which can improve earnings prospects for major gold producers such as Agnico Eagle.