Agnico Eagle Mines (TSE:AEM) Price Target Cut to C$242.00 by Analysts at TD

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its target price lowered by research analysts at TD from C$244.00 to C$242.00 in a report issued on Tuesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. TD’s price objective would indicate a potential downside of 7.92% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Barclays lowered their price objective on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Stifel Nicolaus reduced their target price on shares of Agnico Eagle Mines from C$350.00 to C$310.00 in a research note on Friday, July 17th. Finally, National Bank Financial lowered their target price on Agnico Eagle Mines from C$315.00 to C$310.00 and set an “outperform” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$292.71.

Agnico Eagle Mines Stock Down 0.7%

Shares of AEM traded down C$1.83 on Tuesday, hitting C$262.81. The company’s stock had a trading volume of 212,854 shares, compared to its average volume of 1,011,564. The firm’s fifty day moving average price is C$273.40 and its 200-day moving average price is C$253.26. Agnico Eagle Mines has a fifty-two week low of C$188.48 and a fifty-two week high of C$348.94. The company has a quick ratio of 0.89, a current ratio of 2.86 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of C$131.66 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 22.97 and a beta of 2.00.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Wednesday, July 29th. The company reported C$4.33 EPS for the quarter. Agnico Eagle Mines had a net margin of 40.45% and a return on equity of 22.69%. The firm had revenue of C$5.53 billion for the quarter. On average, equities research analysts expect that Agnico Eagle Mines will post 5.50 EPS for the current year.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,500 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of C$273.35, for a total value of C$410,025.00. Following the completion of the sale, the director owned 16,182 shares in the company, valued at C$4,423,349.70. This trade represents a 8.48% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Company Profile

Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.