BofA Lifts PT on Agnico Eagle Mines (AEM) to $173 From $170, Keeps a Buy Rating

Agnico Eagle Mines Limited (NYSE:AEM) is one of the most profitable gold stocks to buy right now. On June 23, BofA raised the firm’s price target on Agnico Eagle Mines Limited (NYSE:AEM) to $173 from $170, keeping a Buy rating on the shares.

Why Agnico Eagle Deserves a Spot in a Defensive Dividend Portfolio

A macro view of a gold mine, with miners hard at work in the foreground.

The rating update came after the firm’s model update to include the Upper Beaver project by AEM, which is driving growth in its 2027 EPS estimate to $7.53 from $7.14.

The firm further told investors that Agnico Eagle Mines Limited (NYSE:AEM) is a 2025 top precious metals pick, citing various factors for this optimistic outlook, including its track-record of meeting or exceeding targets, exploration upside potential, and “top-tier” mining jurisdictions.

Agnico Eagle Mines Limited (NYSE:AEM) explores and produces gold. The company’s operations are divided into the following segments: Northern Business, Southern Business, and Exploration.

While we acknowledge the potential of AEM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AEM and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.