Agnico Eagle Mines (NYSE:AEM) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Several other brokerages also recently weighed in on AEM. TD Securities cut their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Raymond James set a $105.00 price target on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Scotiabank upped their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Performance

AEM opened at $97.04 on Tuesday. Agnico Eagle Mines has a 52-week low of $47.73 and a 52-week high of $101.45. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $48.80 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The firm’s 50-day moving average price is $88.31 and its 200-day moving average price is $84.39.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, equities analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.65%. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEM. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines during the 4th quarter worth $26,000. Smartleaf Asset Management LLC boosted its stake in Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in Agnico Eagle Mines during the 4th quarter worth $29,000. Fifth Third Bancorp boosted its stake in Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after purchasing an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. boosted its stake in Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.