Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) traded down 3.4% during mid-day trading on Wednesday . The stock traded as low as $55.95 and last traded at $56.19, with a volume of 814,344 shares traded. The stock had previously closed at $58.16.

Several analysts recently issued reports on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of Agnico Eagle Mines in a research report on Saturday, June 4th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price on the stock. in a research report on Monday, August 8th. Zacks Investment Research lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. RBC Capital Markets lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price on the stock. in a research report on Monday, August 8th. Finally, Desjardins upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Agnico Eagle Mines currently has an average rating of “Buy” and an average target price of $50.14.

The firm has a market capitalization of $12.81 billion and a PE ratio of 395.17. The stock’s 50-day moving average price is $56.10 and its 200 day moving average price is $44.79.

Agnico Eagle Mines (NYSE:AEM) last announced its quarterly earnings data 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 business earned $537.60 million during the quarter, compared to analysts’ expectations of $507.37 million. Agnico Eagle Mines’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, equities analysts anticipate that Agnico Eagle Mines Ltd. will post $0.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued 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 annualized dividend and a yield of 0.70%.

Other hedge funds and institutional investors have modified their holdings of the company. Cheviot Value Management LLC raised its position in shares of Agnico Eagle Mines by 41.5% in the fourth quarter. Cheviot Value Management LLC now owns 88,278 shares of the mining company’s stock valued at $2,320,000 after buying an additional 25,908 shares during the last quarter. Airain ltd acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $3,419,000. Bridgewater Associates LP raised its position in shares of Agnico Eagle Mines by 22.8% in the fourth quarter. Bridgewater Associates LP now owns 323,801 shares of the mining company’s stock valued at $8,509,000 after buying an additional 60,210 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Agnico Eagle Mines by 26.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,107,113 shares of the mining company’s stock valued at $81,352,000 after buying an additional 654,800 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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