Agnico Eagle Mines (AEM) Shares Gap Down to $34.52

Share on StockTwits

Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) gapped down before the market opened on Tuesday . The stock had previously closed at $35.26, but opened at $34.52. Agnico Eagle Mines shares last traded at $33.21, with a volume of 2544529 shares traded.

Several equities research analysts have recently weighed in on the company. ValuEngine lowered Agnico Eagle Mines from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup cut their price objective on Agnico Eagle Mines from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. National Bank Financial upgraded Agnico Eagle Mines from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 9th. TD Securities increased their price objective on Agnico Eagle Mines from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, Royal Bank of Canada upgraded Agnico Eagle Mines from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $49.00 to $55.00 in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Agnico Eagle Mines presently has a consensus rating of “Buy” and an average target price of $57.40.

The company has a quick ratio of 2.83, a current ratio of 4.02 and a debt-to-equity ratio of 0.35. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 29.61 and a beta of -0.59.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 25th. The mining company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.07). Agnico Eagle Mines had a net margin of 6.84% and a return on equity of 3.07%. The company had revenue of $556.28 million for the quarter, compared to the consensus estimate of $536.81 million. During the same quarter last year, the business earned $0.24 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 1.2% on a year-over-year basis. equities analysts forecast that Agnico Eagle Mines Ltd will post 0.32 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of AEM. Van ECK Associates Corp increased its stake in shares of Agnico Eagle Mines by 22.1% in the first quarter. Van ECK Associates Corp now owns 14,529,969 shares of the mining company’s stock worth $611,276,000 after purchasing an additional 2,633,971 shares during the period. Toronto Dominion Bank increased its stake in shares of Agnico Eagle Mines by 144.3% in the second quarter. Toronto Dominion Bank now owns 1,641,990 shares of the mining company’s stock worth $75,883,000 after purchasing an additional 969,997 shares during the period. Sun Valley Gold LLC increased its stake in shares of Agnico Eagle Mines by 6,056.7% in the first quarter. Sun Valley Gold LLC now owns 673,977 shares of the mining company’s stock worth $28,354,000 after purchasing an additional 663,030 shares during the period. Addenda Capital Inc. increased its stake in shares of Agnico Eagle Mines by 88.5% in the second quarter. Addenda Capital Inc. now owns 908,104 shares of the mining company’s stock worth $39,786,000 after purchasing an additional 426,247 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Agnico Eagle Mines by 48.4% in the first quarter. Millennium Management LLC now owns 1,059,050 shares of the mining company’s stock worth $44,554,000 after purchasing an additional 345,216 shares during the period. Institutional investors and hedge funds own 60.25% of the company’s stock.

Agnico Eagle Mines Company Profile (NYSE:AEM)

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.

Recommended Story: Asset Allocation Models, Which is Right For You?

Receive News & Ratings for Agnico Eagle Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agnico Eagle Mines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply