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

Several brokerages recently issued reports on AEM. CIBC increased their price objective on Agnico Eagle Mines from $37.50 to $44.50 in a report on Friday, April 8th. Vetr upgraded Agnico Eagle Mines from a “sell” rating to a “buy” rating and set a $42.34 target price on the stock in a report on Monday, April 11th. Royal Bank Of Canada raised their target price on Agnico Eagle Mines from $34.00 to $42.00 in a report on Tuesday, April 12th. Zacks Investment Research upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday, May 4th. Finally, BMO Capital Markets lowered Agnico Eagle Mines from an “outperform” rating to a “market perform” rating in a report on Thursday, May 12th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $43.14.

The company has a market cap of $11.71 billion and a P/E ratio of 487.06. The firm’s 50 day moving average price is $52.55 and its 200-day moving average price is $40.92.

Agnico Eagle Mines (NYSE:AEM) last posted its quarterly earnings data on Thursday, April 28th. The mining company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.13. During the same period in the previous year, the firm earned $0.15 earnings per share. The firm had revenue of $490.53 million for the quarter, compared to analysts’ expectations of $480.22 million. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts predict that Agnico Eagle Mines Ltd. will post $0.60 EPS for the current fiscal year.

A number of hedge funds and institutional investors have recently bought and sold shares of AEM. Gulf International Bank UK Ltd raised its position in 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 valued at $1,768,000 after buying an additional 4,500 shares during the last quarter. Airain ltd purchased a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $3,419,000. Finally, State of Wisconsin Investment Board raised its position in 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 valued at $4,944,000 after buying an additional 77,300 shares during the last quarter.

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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