Agnico Eagle Stock Pares Early Losses After UBS Turns ‘Neutral’ But Citi Hikes Price Target – Retail’s Optimistic As Gold Hits Record Highs

Agnico Eagle (AEM) shares retained bullish retail sentiment on Stocktwits after UBS downgraded the stock to ‘Neutral’ from ‘Buy,’ citing limited upside despite strong execution, but raised its price target to $110 from $100.

Citi took a more bullish stance, increasing its price target on Agnico Eagle to $140 from $100 with a ‘Buy’ rating, emphasizing the miner's strong momentum and gold’s record-setting rally, according to an Investing.com report. 

In early trade, gold prices surged to an all-time high of $3,127.92 per ounce, though broader equity markets edged lower amid a sell-off as Wall Street awaits the rollout of Trump's tariffs.

UBS acknowledged Agnico Eagle’s "reliable execution" and ability to leverage rising gold prices, contributing to a 120% return over the past two years. 

However, the brokerage now sees fewer catalysts for further gains unless gold prices continue upward or the stock undergoes multiple re-ratings. 

UBS contends that Agnico's valuation appears stretched following its sustained outperformance.

Meanwhile, Citi noted that Agnico Eagle has delivered exceptional gains this year, climbing 37.85% year-to-date and touching a 52-week high of $110.36 on Friday when gold hit $3,086 per ounce. 

The bank's revised model anticipates continued strength, particularly ahead of the company’s first-quarter earnings report on April 24.

Citi forecasts a stable quarter for Agnico Eagle, with an expected earnings before income, taxes, depreciation, and amortization (EBITDA) of $1 billion and earnings per share (EPS) of $0.40. 

With gold prices up nearly $500 per ounce since the start of the year, much of that increase is expected to flow through to Agnico’s pre-tax income, according to Citi.

On Stocktwits, retail sentiment around Agnico Eagles’ stock dipped lower but remained in ‘bullish’ territory. 

One user expressed confidence in the stock, citing rising geopolitical uncertainty and expectations that gold’s rally will persist.

Agnico Eagle’s stock has climbed 35% in 2025 and is up 83% over the past year.

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Read also: Gold Stocks Gain As Precious Metal Hits Record High – But Retail Sentiment Weakens