Agnico Eagle Mines (NYSE:AEM) Downgraded to Hold Rating by Erste Group Bank

Erste Group Bank downgraded shares of Agnico Eagle Mines (NYSE:AEMFree Report) (TSE:AEM) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

AEM has been the subject of a number of other research reports. Raymond James Financial restated an “outperform” rating and set a $225.00 target price on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a research report on Sunday, December 7th. TD Securities set a $251.00 target price on Agnico Eagle Mines and gave the stock a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings lowered Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $234.91.

Check Out Our Latest Stock Analysis on Agnico Eagle Mines

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $228.11 on Wednesday. The stock has a 50-day moving average price of $194.91 and a 200 day moving average price of $170.83. The stock has a market capitalization of $114.29 billion, a P/E ratio of 25.69, a P/E/G ratio of 0.52 and a beta of 0.63. Agnico Eagle Mines has a 12-month low of $92.11 and a 12-month high of $229.09. The company has a current ratio of 2.02, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the company posted $1.26 EPS. The firm’s revenue for the quarter was up 60.3% compared to the same quarter last year. Equities research analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.45 per share. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines’s payout ratio is currently 20.27%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AEM. True Wealth Design LLC increased its position in shares of Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Acumen Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 2nd quarter worth $29,000. City State Bank increased its stake in shares of Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after buying an additional 110 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its holdings in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Key Agnico Eagle Mines News

Here are the key news stories impacting Agnico Eagle Mines this week:

About Agnico Eagle Mines

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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.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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