Scotia Capital Has Sector Perform On Agnico-Eagle Mines

Scotia Capital is out with a research report on Agnico-Eagle Mines Limited (NYSE: AEM) and it has a Sector Perform rating and a $81 price target on shares.

In a note to clients, Scotia Capital writes, "AEM produced 266 koz of gold in Q3, in line with our forecast of 267 koz. No cash cost details were provided. Gold production was up 11% QOQ on stronger production from Kittila and Meadowbank. Water inflow remediation at Goldex continues. Funding is now estimated at C$45M, up from C$20M previously. To date, there has been no impact on operations, but some movement in the mill and headframe has been noted."

Shares of AEM closed at $58.86 yesterday.