TD Upgrades Agnico to Strong Buy

Agnico Eagle: 3 mines operating & 3 new gold mines soon.

Gold production to double to 590,000 ounces in 2009, double again to 1.2 million ounces in 2010.

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wolf411

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TD Upgrades Agnico to Strong Buy

posted on Jan 14, 2009 10:46AM

TD Securities has upgraded Agnico Eagle from Buy to Strong Buy, or to use TD's term, "Action List Buy". Target is raised from USD 48.00 to USD 62.00.

The two page report on Agnico, dated today, Jan 14, says in part:

"We believe Agnico-Eagle is the best positioned senior producer in 2009 with gold production forecast to double this year and next. The company remains a low cost producer, has relatively low geopolitical risk exposure, and is fully financed to complete its development pipeline that should see produce 1.3 million ounces annually by 2013."

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