Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target dropped by stock analysts at Royal Bank of Canada from $52.00 to $48.00 in a research report issued on Monday. The brokerage currently has a “sector perform” rating on the mining company’s stock. Royal Bank of Canada’s price target points to a potential upside of 21.64% from the stock’s previous close.
AEM has been the subject of a number of other research reports. Credit Suisse Group reiterated a “buy” rating and set a $62.00 price target (up previously from $59.00) on shares of Agnico Eagle Mines in a research report on Friday, December 22nd. TD Securities upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and dropped their price target for the company from $55.00 to $53.00 in a research report on Wednesday, February 28th. GMP Securities downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Citigroup set a $41.00 price target on Agnico Eagle Mines and gave the company a “hold” rating in a research report on Thursday, March 1st. Finally, CSFB lifted their price target on Agnico Eagle Mines from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, December 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.90.
Shares of Agnico Eagle Mines (AEM) traded up $0.40 on Monday, hitting $39.46. The stock had a trading volume of 1,370,000 shares, compared to its average volume of 1,630,000. The company has a market cap of $9,180.00, a P/E ratio of 37.58, a PEG ratio of 60.56 and a beta of -0.35. The company has a current ratio of 3.85, a quick ratio of 2.70 and a debt-to-equity ratio of 0.28. Agnico Eagle Mines has a 12-month low of $37.35 and a 12-month high of $51.86.
A number of large investors have recently added to or reduced their stakes in AEM. Pinebridge Investments L.P. purchased a new position in Agnico Eagle Mines in the 3rd quarter worth approximately $170,000. US Bancorp DE increased its stake in Agnico Eagle Mines by 35.2% in the 4th quarter. US Bancorp DE now owns 5,837 shares of the mining company’s stock worth $270,000 after purchasing an additional 1,521 shares during the period. High Pointe Capital Management LLC increased its stake in Agnico Eagle Mines by 29.0% in the 4th quarter. High Pointe Capital Management LLC now owns 6,270 shares of the mining company’s stock worth $290,000 after purchasing an additional 1,410 shares during the period. Premia Global Advisors LLC purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $335,000. Finally, Quantbot Technologies LP purchased a new position in Agnico Eagle Mines in the 3rd quarter worth approximately $375,000. Institutional investors own 57.33% of the company’s stock.
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About Agnico Eagle Mines
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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