Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM)’s share price gapped down before the market opened on Monday after Raymond James Financial lowered their price target on the stock from $62.00 to $60.00. The stock had previously closed at $46.23, but opened at $45.10. Raymond James Financial currently has an outperform rating on the stock. Agnico Eagle Mines shares last traded at $43.10, with a volume of 3762600 shares trading hands.
Several other research firms have also weighed in on AEM. Credit Suisse Group restated a “buy” rating and set a $62.00 target price on shares of Agnico Eagle Mines in a report on Friday, January 26th. Canaccord Genuity reiterated a “buy” rating and issued a $77.00 price objective on shares of Agnico Eagle Mines in a report on Thursday, December 28th. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $53.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, January 12th. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Tuesday, January 2nd. Finally, CSFB boosted their price objective on shares of Agnico Eagle Mines from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, December 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Agnico Eagle Mines presently has an average rating of “Buy” and a consensus target price of $57.80.
A number of hedge funds have recently modified their holdings of AEM. Korea Investment CORP raised its stake in shares of Agnico Eagle Mines by 8.5% in the 3rd quarter. Korea Investment CORP now owns 15,472 shares of the mining company’s stock valued at $698,000 after purchasing an additional 1,214 shares in the last quarter. High Pointe Capital Management LLC raised its stake in shares of Agnico Eagle Mines by 29.0% in the 4th quarter. High Pointe Capital Management LLC now owns 6,270 shares of the mining company’s stock valued at $290,000 after purchasing an additional 1,410 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Agnico Eagle Mines by 4.1% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 38,098 shares of the mining company’s stock valued at $1,718,000 after purchasing an additional 1,500 shares in the last quarter. US Bancorp DE raised its stake in shares of Agnico Eagle Mines by 35.2% in the 4th quarter. US Bancorp DE now owns 5,837 shares of the mining company’s stock valued at $270,000 after purchasing an additional 1,521 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Agnico Eagle Mines by 8.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,573 shares of the mining company’s stock valued at $930,000 after purchasing an additional 1,530 shares in the last quarter. Hedge funds and other institutional investors own 57.16% of the company’s stock.
The company has a market capitalization of $9,700.00, a P/E ratio of 35.62, a PEG ratio of 41.91 and a beta of -0.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.70 and a current ratio of 3.85.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, February 14th. The mining company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $565.25 million for the quarter, compared to analyst estimates of $552.10 million. Agnico Eagle Mines had a net margin of 10.88% and a return on equity of 5.21%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 EPS. sell-side analysts expect that Agnico Eagle Mines Ltd will post 1.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 22nd will be paid a $0.11 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.06%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 37.61%.
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About Agnico Eagle Mines
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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