Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) fell 5.1% during mid-day trading on Wednesday . The company traded as low as $52.83 and last traded at $52.89, with a volume of 1,398,691 shares changing hands. The stock had previously closed at $55.71.

A number of research firms have issued reports on AEM. Dundee Securities downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a report on Thursday, July 14th. HSBC reissued a “buy” rating on shares of Agnico Eagle Mines in a report on Thursday, July 7th. Zacks Investment Research raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Monday. Desjardins raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Wednesday, July 13th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Agnico Eagle Mines in a report on Saturday, June 4th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Agnico Eagle Mines presently has an average rating of “Buy” and an average price target of $43.14.

The stock has a market cap of $11.52 billion and a P/E ratio of 479.36. The company’s 50 day moving average price is $52.11 and its 200-day moving average price is $40.75.

Agnico Eagle Mines (NYSE:AEM) last announced its earnings results on Thursday, April 28th. The mining company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.13. The business had revenue of $490.53 million for the quarter, compared to the consensus estimate of $480.22 million. During the same quarter last year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Agnico Eagle Mines Ltd. will post $0.60 earnings per share for the current year.

Several hedge funds have made changes to their positions in the stock. Gulf International Bank UK Ltd boosted its stake in shares of Agnico Eagle Mines by 7.2% in the fourth quarter. Gulf International Bank UK Ltd now owns 67,228 shares of the mining company’s stock worth $1,768,000 after buying an additional 4,500 shares during the period. Airain ltd acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth approximately $3,419,000. Finally, State of Wisconsin Investment Board boosted its stake in shares of Agnico Eagle Mines by 69.3% in the fourth quarter. State of Wisconsin Investment Board now owns 188,821 shares of the mining company’s stock worth $4,944,000 after buying an additional 77,300 shares during the period.

Agnico Eagle Mines Limited is a 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. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

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