Agnico Eagle Mines (NYSE:AEM) Stock Gets Price Target Cut from Barclays

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price trimmed by Barclays from $218.00 to $215.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the mining company’s stock.

Other equities analysts also recently issued research reports about the company. UBS Group lifted their price target on Agnico Eagle Mines from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Citigroup lowered their price objective on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Scotiabank dropped their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Bank of America cut their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.00.

Agnico Eagle Mines Stock Up 9.4%

Shares of NYSE AEM opened at $183.00 on Monday. The stock has a market capitalization of $92.77 billion, a P/E ratio of 14.93, a P/E/G ratio of 2.54 and a beta of 0.69. The company has a 50-day moving average price of $189.96 and a 200-day moving average price of $189.09. Agnico Eagle Mines has a 1 year low of $134.38 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.75 and a quick ratio of 1.90.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 28th. The mining company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.47 by $0.15. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 21.68%. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities research analysts forecast that Agnico Eagle Mines will post 11.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BIP Wealth LLC bought a new stake in Agnico Eagle Mines during the 2nd quarter worth approximately $1,167,000. Engineers Gate Manager LP boosted its holdings in Agnico Eagle Mines by 914.3% in the 2nd quarter. Engineers Gate Manager LP now owns 30,246 shares of the mining company’s stock valued at $4,692,000 after purchasing an additional 27,264 shares during the period. Annex Advisory Services LLC boosted its holdings in Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock valued at $4,500,000 after purchasing an additional 11,995 shares during the period. K.J. Harrison & Partners Inc bought a new position in Agnico Eagle Mines in the 2nd quarter valued at $6,923,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Agnico Eagle Mines by 12.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company’s stock valued at $16,046,000 after purchasing an additional 11,100 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.