Agnico Eagle Mines Given New $45.00 Price Target at CIBC (AEM)
Stock analysts at CIBC upped their target price on shares of Agnico Eagle Mines (NYSE:AEM) from $40.00 to $45.00 in a report issued on Friday. CIBC’s price objective points to a potential upside of 16.94% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Agnico Eagle Mines in a research note on Friday, August 1st. They now have a $34.00 price target on the stock, up previously from $31.00. Separately, analysts at Cowen and Company cut their price target on shares of Agnico Eagle Mines from $26.01 to $24.34 in a research note on Friday, August 1st. Finally, analysts at Scotiabank downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.93.
Shares of Agnico Eagle Mines (NYSE:AEM) opened at 38.48 on Friday. 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 $39.22 and a 200-day moving average of $33.58. The company’s market cap is $8.024 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. On average, analysts predict that Agnico Eagle Mines will post $1.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, August 28th.
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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