Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Earnings estimates for Agnico-Eagle for the third quarter have been going down of late. Agnico-Eagle maintains a solid exploration budget and is reinvesting in its assets to expand output. It is making a good progress with its key growth projects and is also expanding mine life across a number of properties. The company has outperformed the industry it belongs to over the last six months. However, Agnico-Eagle is exposed to a volatile gold pricing environment. The company's lower expected production and higher anticipated costs may affect its performance in 2017.”

Several other equities research analysts have also issued reports on the stock. ValuEngine raised shares of Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group set a $64.00 price target on shares of Agnico Eagle Mines Limited and gave the company a “buy” rating in a research note on Sunday, September 10th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Agnico Eagle Mines Limited in a research note on Thursday, June 15th. National Bank Financial raised shares of Agnico Eagle Mines Limited from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $54.00 price target on shares of Agnico Eagle Mines Limited in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.44.

Shares of Agnico Eagle Mines Limited (AEM) opened at 45.82 on Friday. The stock’s 50 day moving average price is $47.89 and its 200-day moving average price is $46.61. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 42.11 and a beta of -0.76. Agnico Eagle Mines Limited has a 52 week low of $35.05 and a 52 week high of $53.17.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 26th. The mining company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.10. The company had revenue of $549.88 million for the quarter, compared to the consensus estimate of $529.43 million. Agnico Eagle Mines Limited had a return on equity of 5.38% and a net margin of 11.32%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. Equities analysts predict that Agnico Eagle Mines Limited will post $0.80 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of AEM. FMR LLC increased its holdings in Agnico Eagle Mines Limited by 10.9% in the 2nd quarter. FMR LLC now owns 11,617,737 shares of the mining company’s stock valued at $523,909,000 after purchasing an additional 1,141,509 shares during the last quarter. Vanguard Group Inc. increased its holdings in Agnico Eagle Mines Limited by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,444,848 shares of the mining company’s stock valued at $245,672,000 after purchasing an additional 352,417 shares during the last quarter. Credit Suisse AG increased its holdings in Agnico Eagle Mines Limited by 54.5% in the 1st quarter. Credit Suisse AG now owns 808,552 shares of the mining company’s stock valued at $34,315,000 after purchasing an additional 285,248 shares during the last quarter. Hussman Strategic Advisors Inc. boosted its position in Agnico Eagle Mines Limited by 700.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 200,000 shares of the mining company’s stock valued at $9,024,000 after buying an additional 175,000 shares during the period. Finally, Fiera Capital Corp boosted its position in Agnico Eagle Mines Limited by 23.4% in the 2nd quarter. Fiera Capital Corp now owns 901,185 shares of the mining company’s stock valued at $40,568,000 after buying an additional 170,684 shares during the period. Hedge funds and other institutional investors own 59.02% of the company’s stock.

Agnico Eagle Mines Limited 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.

Analyst Recommendations for Agnico Eagle Mines Limited (NYSE:AEM)

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