** TD Securities upgrades Canadian gold miner's U.S.-listed shares to "buy" from "hold" on long-term outlook

** However, cuts PT to $53 from $55, says 2018 marks low-point for annual production and free cash flow

** Sees production in 2020 to 2024 to remain at least 28 pct higher than 2018 levels as mines in North Canada begin production in H2 2019

** Expects higher dividend in 2020 as free cash flow rises to about $700 mln from about $400 mln in 2018

** 9 of 18 brokerages rate the stock "buy" or higher, 8 "hold" and 1 "sell" or lower; their median PT is $52.10

** Agnico shares have fallen 9 pct in the last 12 months (Reporting by Karan Nagarkatti)