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Thursday, June 10, 2010

JP Morgan (NYSE:JPM) Likes Agnico Eagle Mines (NYSE:AEM) and Kinross Gold (NYSE:KGC)

JP Morgan (NYSE:JPM) raised its price target on a number of gold miners today, including Agnico Eagle Mines (NYSE:AEM) and Kinross Gold (NYSE:KGC).

They also raised price targets on Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG) and Newmont Mining (NYSE:NEM).

For Agnico-Eagle, JP Morgan analyst John Bridges sees it reaching $64 a share, and with Kinross Gold, he sees them increasing t $30 a share.

Agnico was at $59.59, or $0.97, as 1.65 percent gain, as of 12:08 PM EDT.

Kinross was up $17.37, an increase of $0.15, 0.87 percent, as of 12:07 PM EDT.

In a note to clients, Bridges said about Kinross that he believes they're undervalued because of the delays at the Paracatu project in Brazil.

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