Agnico Eagle Mines (NYSE:AEM) Price Target Lowered to $70.00 at Barclays

Agnico Eagle Mines (NYSE:AEMGet Rating) (TSE:AEM) had its target price cut by investment analysts at Barclays from $71.00 to $70.00 in a research report issued on Wednesday, The Fly reports. Barclays‘s price objective points to a potential upside of 30.89% from the company’s current price.

AEM has been the topic of several other research reports. TD Securities decreased their target price on Agnico Eagle Mines from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, March 1st. National Bank Financial decreased their target price on Agnico Eagle Mines from C$99.00 to C$98.00 in a report on Wednesday, May 11th. BMO Capital Markets decreased their price target on Agnico Eagle Mines from $93.00 to $88.00 in a report on Friday, February 25th. TheStreet upgraded Agnico Eagle Mines from a “c+” rating to a “b” rating in a report on Wednesday, March 23rd. Finally, Stifel Nicolaus decreased their price target on Agnico Eagle Mines from C$115.75 to C$100.00 in a report on Monday, February 28th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $83.14.

Agnico Eagle Mines stock opened at $53.48 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.46. The stock has a fifty day moving average price of $57.82 and a two-hundred day moving average price of $54.59. Agnico Eagle Mines has a 52-week low of $45.42 and a 52-week high of $72.54. The firm has a market capitalization of $13.13 billion, a P/E ratio of 27.71, a P/E/G ratio of 23.02 and a beta of 0.85.

Agnico Eagle Mines (NYSE:AEMGet Rating) (TSE:AEM) last released its quarterly earnings data on Thursday, April 28th. The mining company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.25. Agnico Eagle Mines had a return on equity of 7.76% and a net margin of 12.22%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. On average, equities research analysts predict that Agnico Eagle Mines will post 2.32 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of Agnico Eagle Mines by 29.1% during the first quarter. Huntington National Bank now owns 968 shares of the mining company’s stock worth $59,000 after purchasing an additional 218 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in Agnico Eagle Mines by 90.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 476 shares of the mining company’s stock valued at $29,000 after buying an additional 226 shares during the last quarter. FinTrust Capital Advisors LLC raised its position in Agnico Eagle Mines by 12.5% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 2,081 shares of the mining company’s stock valued at $108,000 after buying an additional 232 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Agnico Eagle Mines by 1.2% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 19,835 shares of the mining company’s stock valued at $1,214,000 after buying an additional 232 shares during the last quarter. Finally, Pacifica Partners Inc. raised its position in Agnico Eagle Mines by 78.5% in the 4th quarter. Pacifica Partners Inc. now owns 580 shares of the mining company’s stock valued at $29,000 after buying an additional 255 shares during the last quarter. 69.74% of the stock is currently owned by institutional investors.

About Agnico Eagle Mines (Get Rating)

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.

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