Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday, February 16th, MarketBeat Ratings reports.
Other equities analysts have also issued reports about the stock. Credit Suisse Group restated a “buy” rating and issued a $62.00 price target on shares of Agnico Eagle Mines in a research report on Friday, January 26th. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Tuesday, January 2nd. Canaccord Genuity reiterated a “buy” rating and set a $77.00 target price on shares of Agnico Eagle Mines in a research report on Thursday, December 28th. Royal Bank of Canada set a $53.00 target price on shares of Agnico Eagle Mines and gave the stock a “hold” rating in a research report on Monday, October 23rd. Finally, Desjardins reiterated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, December 11th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $55.90.
Agnico Eagle Mines (NYSE:AEM) traded up $0.29 during trading hours on Friday, reaching $39.80. 1,026,653 shares of the company’s stock were exchanged, compared to its average volume of 1,630,000. The firm has a market capitalization of $9,270.00, a price-to-earnings ratio of 37.90, a PEG ratio of 61.18 and a beta of -0.35. Agnico Eagle Mines has a 52-week low of $37.35 and a 52-week high of $51.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.70 and a current ratio of 3.85.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, February 14th. The mining company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $552.10 million. Agnico Eagle Mines had a net margin of 10.88% and a return on equity of 5.21%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. analysts expect that Agnico Eagle Mines will post 0.65 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of AEM. Northern Trust Corp increased its stake in Agnico Eagle Mines by 2.1% in the second quarter. Northern Trust Corp now owns 202,476 shares of the mining company’s stock valued at $9,135,000 after purchasing an additional 4,121 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Agnico Eagle Mines by 35.3% in the second quarter. Parametric Portfolio Associates LLC now owns 77,126 shares of the mining company’s stock valued at $3,480,000 after purchasing an additional 20,120 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Agnico Eagle Mines by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 194,896 shares of the mining company’s stock valued at $8,794,000 after purchasing an additional 11,303 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in Agnico Eagle Mines in the second quarter valued at approximately $286,000. Finally, Verition Fund Management LLC bought a new stake in Agnico Eagle Mines in the second quarter valued at approximately $459,000. 57.33% of the stock is owned by hedge funds and other institutional investors.
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Agnico Eagle Mines Company Profile
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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