Agnico-Eagle Mines Limited Upgraded to “Outperform” at CIBC (AEM)
Agnico-Eagle Mines Limited (NYSE:AEM) was upgraded by research analysts at CIBC from a “sector perform” rating to an “outperform” rating in a report released on Friday, TheFlyOnTheWall.com reports. The firm currently has a $37.00 target price on the stock, up from their previous target price of $31.00. CIBC’s price target suggests a potential upside of 19.90% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Desjardins upgraded shares of Agnico-Eagle Mines Limited from a “hold” rating to a “buy” rating in a research note to investors on Thursday. Separately, analysts at BMO Capital Markets upgraded shares of Agnico-Eagle Mines Limited from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday. They now have a $35.00 price target on the stock, up previously from $32.00. Finally, analysts at Canaccord Genuity initiated coverage on shares of Agnico-Eagle Mines Limited in a research note to investors on Thursday. They set a “hold” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Agnico-Eagle Mines Limited currently has a consensus rating of “Hold” and an average target price of $38.02.
Shares of Agnico-Eagle Mines Limited (NYSE:AEM) traded up 1.11% on Friday, hitting $30.86. 2,740,965 shares of the company’s stock traded hands. Agnico-Eagle Mines Limited has a 1-year low of $25.00 and a 1-year high of $57.35. The stock has a 50-day moving average of $29.23 and a 200-day moving average of $31.96. The company has a market cap of $5.336 billion and a price-to-earnings ratio of 27.90.
Agnico-Eagle Mines Limited (NYSE:AEM) last announced its earnings results on Wednesday, October 23rd. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.26. The company had revenue of $44.30 million for the quarter, compared to the consensus estimate of $369.26 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was down 17.1% on a year-over-year basis. Analysts expect that Agnico-Eagle Mines Limited will post $0.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, November 27th.
Agnico-Eagle Mines Limited (NYSE:AEM) is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States.
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