Agnico Eagle Mines Ltd. (NYSE:AEM)‘s stock had its “sell” rating restated by equities research analysts at Citigroup Inc. in a research report issued on Monday.
Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Monday. BMO Capital Markets set a $72.30 target price on shares of Agnico Eagle Mines and gave the stock a “hold” rating in a report on Sunday, September 18th. RBC Capital Markets reissued a “sector perform” rating on shares of Agnico Eagle Mines in a report on Monday, September 19th. TD Securities reissued a “hold” rating and set a $61.00 target price (up from $56.00) on shares of Agnico Eagle Mines in a report on Saturday, August 13th. Finally, Barclays PLC increased their target price on shares of Agnico Eagle Mines from $50.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Agnico Eagle Mines has an average rating of “Hold” and a consensus price target of $53.05.
Agnico Eagle Mines (NYSE:AEM) traded up 1.55% during mid-day trading on Monday, reaching $46.37. 356,099 shares of the company were exchanged. Agnico Eagle Mines has a 12 month low of $24.80 and a 12 month high of $60.10. The stock has a market capitalization of $10.36 billion, a P/E ratio of 319.79 and a beta of -0.84. The company’s 50 day moving average price is $51.36 and its 200-day moving average price is $49.72.
Agnico Eagle Mines (NYSE:AEM) last posted its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. The firm had revenue of $537.60 million for the quarter, compared to analysts’ expectations of $507.37 million. Agnico Eagle Mines had a net margin of 1.61% and a return on equity of 1.88%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. On average, equities analysts expect that Agnico Eagle Mines will post $0.67 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Agnico Eagle Mines by 1.7% in the first quarter. Legal & General Group Plc now owns 1,100,052 shares of the mining company’s stock valued at $39,965,000 after buying an additional 17,982 shares during the period. AMP Capital Investors Ltd raised its position in Agnico Eagle Mines by 2.8% in the first quarter. AMP Capital Investors Ltd now owns 63,262 shares of the mining company’s stock valued at $2,331,000 after buying an additional 1,741 shares during the period. Wellington Management Group LLP raised its position in Agnico Eagle Mines by 144.5% in the first quarter. Wellington Management Group LLP now owns 546,945 shares of the mining company’s stock valued at $19,778,000 after buying an additional 323,286 shares during the period. Amici Capital LLC acquired a new position in Agnico Eagle Mines during the first quarter valued at $4,603,000. Finally, Canada Pension Plan Investment Board acquired a new position in Agnico Eagle Mines during the first quarter valued at $270,000. Institutional investors own 62.03% of the company’s stock.
About Agnico Eagle Mines
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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