Agnico Eagle Mines (NYSE:AEM) Price Target Cut to $175.00 by Analysts at JPMorgan Chase & Co.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $222.00 to $175.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 24.38% from the stock’s previous close.

Several other analysts also recently weighed in on AEM. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group reduced their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Barclays decreased their price target on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Scotia lowered their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a report on Friday, July 3rd. Finally, Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.00.

Agnico Eagle Mines Stock Performance

NYSE AEM traded up $4.36 on Tuesday, hitting $140.69. The stock had a trading volume of 927,714 shares, compared to its average volume of 2,681,614. The company’s 50-day moving average is $164.20 and its two-hundred day moving average is $191.31. Agnico Eagle Mines has a one year low of $122.32 and a one year high of $255.24. The stock has a market cap of $71.41 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 1.82 and a beta of 0.60. 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 (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 earnings per share. On average, analysts expect that Agnico Eagle Mines will post 12.29 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after acquiring an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Agnico Eagle Mines by 57.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after acquiring an additional 1,160 shares during the last quarter. Rhumbline Advisers raised its position in shares of Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after purchasing an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock worth $110,000 after purchasing an additional 187 shares during the period. 68.34% of the stock is currently owned by institutional investors.

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.