AEM - Agnico Eagle Mines: Detour Lake Continues To Grow
Summary
- Agnico Eagle released exploration results from several of its assets last month, reporting significant step-outs at two of its larger operations, and encouraging results at several other assets.
- This exploration success combined with steady reserve growth has set Detour up for production growth & a longer mine life, with the possibility that it could become a million-ounce producer.
- Despite this news, AEM is trading at lower levels & continues to be the baby thrown out with the bathwater, with a rock-solid investment thesis hurt by weak sentiment sector-wide.
- With the stock having industry-leading margins, a flawless track record, meaningful organic growth on deck, and being a top-10 exploration story, I see it as a must-own producer, especially with it now paying a 4.0% dividend yield.
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Agnico Eagle Mines: Detour Lake Continues To Grow