Zacks Investment Research downgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a hold rating to a sell rating in a research note released on Tuesday morning.

According to Zacks, “Earnings Estimates for Agnico Eagle for the third quarter and full year have been going down lately. Agnico Eagle faces headwinds from lower expected production and higher costs in 2018. Its unit costs are expected to increase this year mainly due to lower expected production on a year over year basis. This may hurt the company’s margins in 2018. The company’s inability to generate positive free cash flows is also a matter of concern. The recent weakness in gold prices is another concern. Agnico Eagle has also underperformed the industry it belongs to over the past three months.”

AEM has been the topic of a number of other research reports. TheStreet lowered shares of Agnico Eagle Mines from a b- rating to a c+ rating in a report on Wednesday, September 5th. TD Securities raised their price target on shares of Agnico Eagle Mines from $55.00 to $56.00 and gave the stock a buy rating in a report on Tuesday, July 31st. Credit Suisse Group reaffirmed an outperform rating on shares of Agnico Eagle Mines in a research note on Monday, September 10th. BMO Capital Markets raised shares of Agnico Eagle Mines from a market perform rating to an outperform rating and set a $55.00 target price on the stock in a research note on Tuesday, May 29th. Finally, ValuEngine lowered shares of Agnico Eagle Mines from a hold rating to a sell rating in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $56.64.

Shares of Agnico Eagle Mines stock opened at $35.10 on Tuesday. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 31.72 and a beta of -0.58. Agnico Eagle Mines has a 12-month low of $32.18 and a 12-month high of $49.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.83 and a current ratio of 4.02.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 25th. The mining company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The firm had revenue of $556.28 million during the quarter, compared to the consensus estimate of $536.81 million. Agnico Eagle Mines had a return on equity of 3.07% and a net margin of 6.84%. Agnico Eagle Mines’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. research analysts expect that Agnico Eagle Mines will post 0.29 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE boosted its stake in Agnico Eagle Mines by 54.5% during the second quarter. US Bancorp DE now owns 3,750 shares of the mining company’s stock worth $171,000 after acquiring an additional 1,323 shares in the last quarter. Blair William & Co. IL boosted its stake in Agnico Eagle Mines by 12.1% during the first quarter. Blair William & Co. IL now owns 13,804 shares of the mining company’s stock worth $581,000 after acquiring an additional 1,487 shares in the last quarter. BlackRock Inc. boosted its stake in Agnico Eagle Mines by 1.1% during the first quarter. BlackRock Inc. now owns 146,755 shares of the mining company’s stock worth $6,174,000 after acquiring an additional 1,629 shares in the last quarter. Pendal Group Ltd boosted its stake in Agnico Eagle Mines by 97.1% during the second quarter. Pendal Group Ltd now owns 3,939 shares of the mining company’s stock worth $181,000 after acquiring an additional 1,941 shares in the last quarter. Finally, Gluskin Sheff & Assoc Inc. boosted its stake in Agnico Eagle Mines by 4.0% during the first quarter. Gluskin Sheff & Assoc Inc. now owns 52,075 shares of the mining company’s stock worth $2,191,000 after acquiring an additional 2,000 shares in the last quarter. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, 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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