Agnico Eagle Mines (AEM) Downgraded to “C+” at TheStreet

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TheStreet cut shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a b- rating to a c+ rating in a research note released on Wednesday.

Several other research analysts also recently weighed in on the company. BMO Capital Markets upgraded Agnico Eagle Mines from a market perform rating to an outperform rating and set a $55.00 price target for the company in a research note on Tuesday, May 29th. TD Securities raised their target price on Agnico Eagle Mines from $55.00 to $56.00 and gave the stock a buy rating in a research note on Tuesday, July 31st. National Bank Financial upgraded Agnico Eagle Mines from a sector perform rating to an outperform rating in a research note on Thursday, August 9th. ValuEngine downgraded Agnico Eagle Mines from a buy rating to a hold rating in a research note on Thursday, July 26th. Finally, Royal Bank of Canada upgraded Agnico Eagle Mines from a sector perform rating to an outperform rating and raised their target price for the stock from $49.00 to $55.00 in a research note on Monday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $57.40.

Shares of AEM stock traded up $0.15 on Wednesday, hitting $32.82. 33,509 shares of the stock were exchanged, compared to its average volume of 1,581,269. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.83 and a current ratio of 4.02. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 29.11 and a beta of -0.59. Agnico Eagle Mines has a one year low of $32.30 and a one year high of $51.81.

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

A number of hedge funds and other institutional investors have recently modified their holdings of AEM. Wells Fargo & Company MN boosted its position in shares of Agnico Eagle Mines by 19.3% during the 1st quarter. Wells Fargo & Company MN now owns 1,033,969 shares of the mining company’s stock valued at $43,499,000 after acquiring an additional 167,197 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Agnico Eagle Mines by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 836,123 shares of the mining company’s stock valued at $35,125,000 after acquiring an additional 3,271 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Agnico Eagle Mines by 52.9% during the 1st quarter. SG Americas Securities LLC now owns 23,241 shares of the mining company’s stock valued at $978,000 after acquiring an additional 8,037 shares during the last quarter. Swiss National Bank boosted its position in shares of Agnico Eagle Mines by 5.4% during the 1st quarter. Swiss National Bank now owns 2,224,353 shares of the mining company’s stock valued at $93,457,000 after acquiring an additional 114,500 shares during the last quarter. Finally, Boulegeris Investments Inc. boosted its position in shares of Agnico Eagle Mines by 72.9% during the 1st quarter. Boulegeris Investments Inc. now owns 33,055 shares of the mining company’s stock valued at $1,391,000 after acquiring an additional 13,940 shares during the last quarter. Institutional investors and hedge funds own 60.25% of the company’s stock.

About Agnico Eagle Mines

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.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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