Agnico Eagle Mines (NYSE:AEM) Price Target Cut to $210.00 by Analysts at Barclays

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target cut by stock analysts at Barclays from $213.00 to $210.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the mining company’s stock. Barclays‘s price objective suggests a potential upside of 36.54% from the company’s previous close.

A number of other equities analysts also recently commented on AEM. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Wall Street Zen upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. JPMorgan Chase & Co. lifted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Scotia lowered their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday. Finally, Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their price objective for the company from $187.00 to $200.00 in a report on Monday. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $236.85.

Agnico Eagle Mines Trading Down 0.0%

NYSE AEM opened at $153.80 on Monday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 52 week low of $115.19 and a 52 week high of $255.24. The stock has a market capitalization of $78.06 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 3.37 and a beta of 0.60. The firm has a 50 day moving average of $174.55 and a two-hundred day moving average of $193.71.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the firm posted $1.53 EPS. The company’s quarterly revenue was up 66.1% compared to the same quarter last year. As a group, research analysts expect that Agnico Eagle Mines will post 13.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AEM. Salvus Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 0.9% in the 4th quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company’s stock valued at $1,068,000 after buying an additional 57 shares during the last quarter. Brookwood Investment Group LLC lifted its position in Agnico Eagle Mines by 4.5% in the fourth quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company’s stock valued at $231,000 after acquiring an additional 58 shares during the last quarter. Baron Wealth Management LLC boosted its stake in Agnico Eagle Mines by 3.2% in the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company’s stock valued at $319,000 after acquiring an additional 59 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Agnico Eagle Mines by 1.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock valued at $893,000 after acquiring an additional 59 shares in the last quarter. Finally, Baker Ellis Asset Management LLC grew its holdings in shares of Agnico Eagle Mines by 0.8% during the fourth quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company’s stock worth $1,280,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.