Agnico Eagle Mines Given New $24.34 Price Target at Cowen and Company (AEM)
Investment analysts at Cowen and Company reduced their target price on shares of Agnico Eagle Mines (NYSE:AEM) from $26.01 to $24.34 in a note issued to investors on Friday. Cowen and Company’s target price points to a potential downside of 35.30% from the stock’s previous close.
Agnico Eagle Mines (NYSE:AEM) traded up 1.16% on Friday, hitting $37.62. 1,554,382 shares of the company’s stock traded hands. Agnico Eagle Mines has a 52-week low of $23.77 and a 52-week high of $42.41. The stock has a 50-day moving average of $38.7 and a 200-day moving average of $33.28. The company’s market cap is $6.987 billion.
Agnico Eagle Mines (NYSE:AEM) last released its earnings data on Wednesday, July 30th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 30.1% on a year-over-year basis. Analysts expect that Agnico Eagle Mines will post $1.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, August 28th.
Several other analysts have also recently commented on the stock. Analysts at Scotiabank downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating in a research note on Friday. Separately, analysts at Desjardins downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Agnico Eagle Mines presently has an average rating of “Hold” and an average price target of $39.93.
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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