Agnico Eagle Mines (AEM) Cut to Hold at ValuEngine

ValuEngine downgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a buy rating to a hold rating in a report published on Thursday, ValuEngine reports.

Several other analysts have also recently issued reports on AEM. CIBC reiterated a buy rating and issued a $57.50 price objective on shares of Agnico Eagle Mines in a research note on Friday, April 5th. Zacks Investment Research cut Agnico Eagle Mines from a buy rating to a hold rating in a research note on Wednesday, February 6th. Desjardins cut Agnico Eagle Mines from a buy rating to a hold rating in a research note on Friday, April 12th. Finally, Barclays cut Agnico Eagle Mines from an overweight rating to an equal weight rating and set a $43.60 price objective on the stock. in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $50.61.

NYSE:AEM opened at $40.40 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.60 and a current ratio of 2.97. Agnico Eagle Mines has a 52 week low of $32.18 and a 52 week high of $47.83. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 130.32, a PEG ratio of 86.48 and a beta of -0.49.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 14th. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.11. The business had revenue of $537.82 million for the quarter, compared to analysts’ expectations of $509.39 million. Agnico Eagle Mines had a positive return on equity of 1.48% and a negative net margin of 14.91%. During the same period last year, the firm earned $0.21 earnings per share. As a group, analysts anticipate that Agnico Eagle Mines will post 0.47 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of AEM. JPMorgan Chase & Co. raised its stake in Agnico Eagle Mines by 278.6% in the third quarter. JPMorgan Chase & Co. now owns 3,668,472 shares of the mining company’s stock valued at $125,461,000 after buying an additional 2,699,518 shares in the last quarter. Norges Bank acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at $80,673,000. Amundi Pioneer Asset Management Inc. raised its stake in Agnico Eagle Mines by 62.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,567,883 shares of the mining company’s stock valued at $103,741,000 after buying an additional 983,988 shares in the last quarter. Polar Capital LLP acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at $32,576,000. Finally, Mackenzie Financial Corp raised its stake in Agnico Eagle Mines by 70.0% in the fourth quarter. Mackenzie Financial Corp now owns 1,547,242 shares of the mining company’s stock valued at $62,509,000 after buying an additional 637,012 shares in the last quarter. Institutional investors own 60.92% of the company’s stock.

Agnico Eagle Mines Company Profile

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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