Agnico Eagle Mines Ltd. (NYSE:AEM)’s share price dropped 3% during trading on Friday . The stock traded as low as $57.72 and last traded at $57.95, with a volume of 1,203,450 shares traded. The stock had previously closed at $59.77.

AEM has been the topic of several analyst reports. Vetr raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $44.84 target price on the stock in a research report on Thursday, April 21st. Sterne Agee CRT reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, May 16th. Royal Bank Of Canada increased their target price on shares of Agnico Eagle Mines from $34.00 to $42.00 in a research report on Tuesday, April 12th. HSBC reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Thursday, July 7th. Finally, BMO Capital Markets downgraded Agnico Eagle Mines from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $45.41.

The stock has a market capitalization of $12.94 billion and a P/E ratio of 399.45. The stock’s 50-day moving average price is $54.59 and its 200-day moving average price is $43.04.

Agnico Eagle Mines (NYSE:AEM) last issued its earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.06. The firm earned $537.60 million during the quarter, compared to the consensus estimate of $507.37 million. During the same period in the previous year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines Ltd. will post $0.60 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a $0.10 dividend. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%.

A number of hedge funds and institutional investors recently made changes to their positions in the stock. Airain ltd bought a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $3,419,000. Gulf International Bank UK Ltd raised its position 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 last quarter. Finally, State of Wisconsin Investment Board raised its position 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 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.