JPMorgan Chase & Co. Issues Pessimistic Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $248.00 to $235.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 4.75% from the company’s previous close.

AEM has been the topic of several other research reports. Scotiabank restated an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday. Canadian Imperial Bank of Commerce set a $296.00 price objective on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Citigroup raised their target price on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Performance

AEM stock opened at $224.34 on Wednesday. Agnico Eagle Mines has a twelve month low of $92.11 and a twelve month high of $225.00. The company has a quick ratio of 1.31, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. The company has a market cap of $112.40 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 0.51 and a beta of 0.63. The business’s fifty day moving average is $193.72 and its 200-day moving average is $170.16.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. Equities research analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Trading of Agnico Eagle Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mcguire Capital Advisors Inc. acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $117,000. Axxcess Wealth Management LLC lifted its stake in Agnico Eagle Mines by 9.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 5,840 shares of the mining company’s stock valued at $990,000 after buying an additional 511 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Agnico Eagle Mines by 17.9% during the 4th quarter. Corient Private Wealth LLC now owns 51,939 shares of the mining company’s stock worth $8,805,000 after buying an additional 7,878 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Agnico Eagle Mines by 17.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,319 shares of the mining company’s stock worth $1,749,000 after buying an additional 1,514 shares during the period. Finally, Raymond James Financial Inc. grew its position in shares of Agnico Eagle Mines by 4.4% during the 4th quarter. Raymond James Financial Inc. now owns 650,951 shares of the mining company’s stock worth $110,356,000 after buying an additional 27,572 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.