Agnico Eagle Mines Ltd (TSE:AEM) (NYSE:AEM) traded down 4.2% on Tuesday . The stock traded as low as C$49.06 and last traded at C$49.14. 916,786 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 798,002 shares. The stock had previously closed at C$51.27.
Several equities research analysts have recently weighed in on the company. National Bank Financial lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$70.00 to C$63.00 in a research note on Friday, February 16th. Canaccord Genuity lowered their price objective on Agnico Eagle Mines from C$81.00 to C$77.00 in a research note on Friday, February 16th. Desjardins reiterated a “buy” rating and issued a C$60.00 price objective on shares of Agnico Eagle Mines in a research note on Monday, December 11th. Finally, Eight Capital restated a “neutral” rating on shares of Agnico Eagle Mines in a research report on Thursday, November 16th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of C$65.43.
The stock has a market capitalization of $11,380.00, a PE ratio of 36.76 and a beta of -1.03.
In other Agnico Eagle Mines news, insider Ammar Al-Joundi purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were acquired at an average cost of C$58.09 per share, for a total transaction of C$116,180.00. Also, Director Sean Riley sold 1,000 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of C$58.49, for a total value of C$58,490.00. Over the last 90 days, insiders have sold 41,000 shares of company stock worth $2,295,090.
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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