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Agnico Eagle Mines (NYSE:AEM) was downgraded by equities research analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Shares of Agnico Eagle Mines (NYSE:AEM) traded down 8.76% on Thursday, hitting $37.19. The stock had a trading volume of 4,572,410 shares. Agnico Eagle Mines has a 1-year low of $23.77 and a 1-year high of $42.41. The stock’s 50-day moving average is $38.30 and its 200-day moving average is $33.18. The company’s market cap is $6.473 billion.

Agnico Eagle Mines (NYSE:AEM) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.01. The company had revenue of $437.80 million for the quarter, compared to the consensus estimate of $453.41 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, analysts predict that Agnico Eagle Mines will post $1.29 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday. Separately, analysts at HSBC downgraded shares of Agnico Eagle Mines from a “neutral” rating to an “underweight” rating in a research note on Friday, July 25th. Finally, analysts at Credit Suisse raised their price target on shares of Agnico Eagle Mines from $48.00 to $50.00 in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.40.

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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