Agnico Eagle Mines Wraps Up Acquisition of 100% of O3 Mining

Agnico Eagle Mines Limited AEM and O3 Mining Inc. have jointly announced that the former has successfully closed the acquisition of all of O3 Mining's outstanding common shares through the amalgamation of O3 Mining and Agnico Eagle Abitibi Acquisition Corp., AEM’s wholly-owned subsidiary. As a result, O3 Mining is now a fully owned subsidiary of Agnico Eagle. The amalgamation marked the subsequent acquisition transaction contemplated in Agnico Eagle's board-backed buyout offer for O3 Mining. As part of the amalgamation, O3 Mining stockholders, excluding Agnico Eagle, will receive $1.67 in cash for each common share.Shares of Agnico Eagle have gained 89.2% in the past year compared with the industry’s 46.9% growth.Image Source: Zacks Investment ResearchIn 2025, the company anticipates producing 3.3-3.5 million ounces of gold. AEM forecasts total cash costs per ounce be in the range of $915-$965 and AISC per ounce to be between $1,250 and $1,300. Excluding capitalized exploration, the projected capital expenditures for 2025 are between $1.75 billion and $1.95 billion.Agnico Eagle Mines Limited Price and Consensus Agnico Eagle Mines Limited price-consensus-chart | Agnico Eagle Mines Limited QuoteAEM’s Rank & Key PicksAEM currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space are Carpenter Technology Corporation CRS, ArcelorMittal MT and Axalta Coating Systems Ltd. AXTACarpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 178.9% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for ArcelorMittal’s current-year earnings is pegged at $3.72 per share. MT, which currently carries a Zacks Rank of 2, surpassed the Zacks Consensus Estimate in three of the trailing four quarters but missed in one, with the average earnings surprise being 4.11%. The company's shares have rallied 21.8% in the past year.Axalta Coating Systems, which currently sports a Zacks Rank of 1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.3%, on average. AXTA’s shares have gained 3.4% over the past year.  7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ArcelorMittal (MT): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks