National Bankshares cut shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) to a hold rating in a research note released on Friday, TipRanks reports. The brokerage currently has $97.00 target price on the mining company’s stock.
Several other brokerages also recently issued reports on AEM. CIBC reiterated a buy rating and issued a $121.50 price target on shares of Agnico Eagle Mines in a report on Friday, July 9th. TheStreet raised shares of Agnico Eagle Mines from a c+ rating to a b- rating in a research report on Thursday, May 13th. National Bank Financial cut shares of Agnico Eagle Mines from an outperform rating to a sector perform rating and cut their target price for the stock from $97.00 to $90.00 in a report on Friday. Raymond James raised their target price on shares of Agnico Eagle Mines from $77.00 to $79.00 and gave the stock an outperform rating in a report on Tuesday, August 17th. Finally, Zacks Investment Research raised Agnico Eagle Mines from a hold rating to a buy rating and set a $71.00 price target on the stock in a report on Tuesday, July 6th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $93.61.
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Shares of Agnico Eagle Mines stock opened at $55.17 on Friday. The company has a fifty day simple moving average of $59.73 and a 200-day simple moving average of $62.69. Agnico Eagle Mines has a 12-month low of $54.66 and a 12-month high of $89.23. The stock has a market cap of $13.48 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 19.68 and a beta of 0.72. The company has a current ratio of 1.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Tuesday, July 27th. The mining company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.10. The firm had revenue of $966.32 million for the quarter, compared to analysts’ expectations of $901.42 million. Agnico Eagle Mines had a net margin of 19.78% and a return on equity of 12.01%. During the same period in the prior year, the company earned $0.18 EPS. On average, analysts forecast that Agnico Eagle Mines will post 2.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be issued a $0.35 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $1.40 annualized dividend and a dividend yield of 2.54%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 75.27%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Agnico Eagle Mines by 1.1% during the first quarter. Oppenheimer & Co. Inc. now owns 14,274 shares of the mining company’s stock valued at $825,000 after purchasing an additional 160 shares during the last quarter. Evoke Wealth LLC lifted its holdings in shares of Agnico Eagle Mines by 1.8% during the second quarter. Evoke Wealth LLC now owns 9,173 shares of the mining company’s stock valued at $555,000 after purchasing an additional 162 shares during the last quarter. Sowell Financial Services LLC lifted its stake in Agnico Eagle Mines by 1.7% in the 1st quarter. Sowell Financial Services LLC now owns 10,885 shares of the mining company’s stock worth $743,000 after acquiring an additional 187 shares in the last quarter. Huntington National Bank increased its position in Agnico Eagle Mines by 24.0% in the 2nd quarter. Huntington National Bank now owns 1,066 shares of the mining company’s stock worth $64,000 after purchasing an additional 206 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC increased its position in Agnico Eagle Mines by 3.0% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 7,056 shares of the mining company’s stock worth $408,000 after purchasing an additional 207 shares during the last quarter. 59.30% of the stock is owned by institutional investors and hedge funds.
About Agnico Eagle Mines
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Sweden, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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