CIBC Raises Agnico Eagle Mines Limited (AEM) Target as Gold Outlook Turns More Bullish

Core Viewpoint - Agnico Eagle Mines Limited (NYSE:AEM) is recognized as one of the best long-term low-risk stocks to buy, with a bullish outlook on gold prices and strong financial performance in recent quarters [1][8]. Group 1: Price Recommendations and Market Outlook - CIBC raised its price target for Agnico Eagle Mines to $296 from $231, maintaining an Outperformer rating, reflecting an optimistic outlook for precious metals [2]. - Gold price forecasts have been increased to $6,000 per ounce in 2026 and $6,500 in 2027, alongside higher expectations for copper [2]. Group 2: Financial Performance - In Q3 2025, Agnico Eagle's gold production remained stable year-over-year, but the company sold gold at prices nearly $1,000 per ounce higher than the previous year [3]. - Total cash costs increased by less than $75 per ounce, remaining under $1,000, while all-in sustaining costs rose from $1,286 to $1,373 per ounce due to higher capital spending [3]. - Adjusted net income surged by over $500 million to $1.085 billion, and free cash flow nearly doubled to $1.19 billion, indicating strong profitability [4]. Group 3: Company Overview - Agnico Eagle Mines Limited is a senior gold producer based in Canada, with operational mines in Canada, Australia, Finland, and Mexico, and is advancing a pipeline of exploration and development projects [5].