Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by equities research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They presently have a $72.92 target price on the mining company’s stock. Scotiabank’s price target suggests a potential upside of 46.90% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. Canaccord Genuity downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Raymond James reissued an “outperform” rating and issued a $74.00 price objective on shares of Agnico Eagle Mines in a research note on Friday, October 25th. National Bank Financial increased their price objective on shares of Agnico Eagle Mines from $100.00 to $102.00 and gave the company an “outperform” rating in a research note on Sunday, October 27th. ValuEngine downgraded shares of Agnico Eagle Mines from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, TheStreet raised shares of Agnico Eagle Mines from a “c+” rating to a “b+” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Agnico Eagle Mines has an average rating of “Buy” and a consensus price target of $73.13.
NYSE AEM opened at $49.64 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.70 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 27.16 and a beta of -0.35. The firm’s 50 day simple moving average is $59.00 and its 200 day simple moving average is $58.57. Agnico Eagle Mines has a 1 year low of $39.66 and a 1 year high of $64.88.Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 13th. The mining company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The business had revenue of $753.10 million for the quarter, compared to analyst estimates of $757.48 million. Agnico Eagle Mines had a net margin of 18.97% and a return on equity of 4.92%. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. On average, equities research analysts forecast that Agnico Eagle Mines will post 1.84 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Cidel Asset Management Inc. raised its stake in shares of Agnico Eagle Mines by 1.4% during the fourth quarter. Cidel Asset Management Inc. now owns 1,086,550 shares of the mining company’s stock valued at $67,015,000 after acquiring an additional 15,306 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Agnico Eagle Mines by 19.9% during the fourth quarter. Profund Advisors LLC now owns 42,032 shares of the mining company’s stock valued at $2,590,000 after acquiring an additional 6,985 shares during the last quarter. Intact Investment Management Inc. bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $1,579,000. Fosun International Ltd bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $1,551,000. Finally, Janus Henderson Group PLC raised its stake in shares of Agnico Eagle Mines by 24.8% during the fourth quarter. Janus Henderson Group PLC now owns 822,555 shares of the mining company’s stock valued at $50,716,000 after acquiring an additional 163,535 shares during the last quarter. 59.36% of the stock is owned by hedge funds and other institutional investors.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
