Royal Bank of Canada Trims Agnico Eagle Mines Ltd (AEM) Target Price to $46.00
Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) had its target price reduced by Royal Bank of Canada from $51.00 to $46.00 in a research note released on Thursday. They currently have a sector perform rating on the mining company’s stock.
Several other research firms also recently issued reports on AEM. Credit Suisse Group AG restated a buy rating on shares of Agnico Eagle Mines in a research note on Wednesday, February 15th. BMO Capital Markets set a $46.00 price objective on shares of Agnico Eagle Mines and gave the company a hold rating in a research note on Thursday, February 2nd. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a strong sell rating to a hold rating in a research note on Tuesday, January 24th. TheStreet upgraded shares of Agnico Eagle Mines from a c rating to a b- rating in a research note on Tuesday, February 21st. Finally, TD Securities restated a hold rating and issued a $61.00 price objective on shares of Agnico Eagle Mines in a research note on Monday, November 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Agnico Eagle Mines presently has a consensus rating of Buy and an average target price of $53.98.
Agnico Eagle Mines (NYSE:AEM) opened at 43.03 on Thursday. Agnico Eagle Mines has a 52 week low of $35.00 and a 52 week high of $60.10. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 61.47 and a beta of -0.51. The company has a 50 day moving average price of $45.19 and a 200 day moving average price of $46.10.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 88.89%.
Several large investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its position in Agnico Eagle Mines by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock valued at $116,000 after buying an additional 157 shares in the last quarter. Creative Planning boosted its position in Agnico Eagle Mines by 25.3% in the third quarter. Creative Planning now owns 2,974 shares of the mining company’s stock valued at $161,000 after buying an additional 600 shares in the last quarter. Guardian Capital Advisors LP purchased a new position in Agnico Eagle Mines during the fourth quarter valued at about $281,000. Foster Dykema Cabot & Co. Inc. MA purchased a new position in Agnico Eagle Mines during the third quarter valued at about $298,000. Finally, US Bancorp DE boosted its position in Agnico Eagle Mines by 37.6% in the third quarter. US Bancorp DE now owns 5,980 shares of the mining company’s stock valued at $324,000 after buying an additional 1,634 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.
Agnico Eagle Mines Company Profile
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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