Agnico Eagle Mines Ltd (AEM)

[Sam Dan]

Further positive recommendation of AEM - Canadian listing adds falling Canadian dollar as stimulus to share price.

I suspect consolidation at current levels will be needed.

"The Financial Post reports in its Friday, Feb. 6, edition that Aurion Capital Management managers Craig MacAdam, Bob Decker, Greg Taylor and Mike Archibald recommend buying Agnico Eagle Mines ($42.84). The Post's Jonathan Ratner writes in the Buy & Sell column that Agnico Eagle Mines is a top gold holding for the managers. Mr. Taylor notes that Agnico should benefit the most among its peers from the combination of a weaker Canadian dollar and lower oil price. Mr. Taylor also highlights Agnico Eagle Mines strong management, good project slate and fairly limited political risk. Mr. Taylor says, "We anticipate positive earnings revisions throughout the year." Operational challenges at the Meadowbank project in Nunavut could hold the stock back, note the manager. The managers are growing increasingly cautious Canadian financials, particularly the banks. With the Bank of Canada expecting a slowdown, they anticipate an uptick in loan losses from oil-sensitive regions and slowing loan growth overall. Mr. Archibald says, "It makes us a bit nervous in terms of what the growth profiles for the banks look like going forward."