Agnico Eagle Mines (TSE:AEM) Downgraded by Freedom Broker to Hold

Freedom Broker downgraded shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) from a strong-buy rating to a hold rating in a report issued on Thursday,Zacks reports.

Several other equities research analysts have also recently weighed in on the stock. National Bank Financial lowered their price target on shares of Agnico Eagle Mines from C$315.00 to C$310.00 and set an “outperform” rating for the company in a research report on Tuesday. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. TD reduced their price objective on shares of Agnico Eagle Mines from C$244.00 to C$242.00 and set a “buy” rating for the company in a research note on Tuesday. Stifel Nicolaus lowered their target price on Agnico Eagle Mines from C$350.00 to C$310.00 in a report on Friday, July 17th. Finally, Barclays lowered their target price on Agnico Eagle Mines from C$298.00 to C$266.00 in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of C$292.71.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at C$243.39 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.86 and a quick ratio of 0.89. The stock has a market cap of C$121.94 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 22.97 and a beta of 2.00. The firm has a 50-day moving average of C$273.27 and a two-hundred day moving average of C$252.49. Agnico Eagle Mines has a 1 year low of C$188.48 and a 1 year high of C$348.94.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its earnings results on Wednesday, July 29th. The company reported C$4.33 earnings per share for the quarter. Agnico Eagle Mines had a return on equity of 22.69% and a net margin of 40.45%. The business had revenue of C$5.53 billion during the quarter. On average, research analysts forecast that Agnico Eagle Mines will post 5.50 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. Agnico Eagle Mines’s dividend payout ratio is presently 14.55%.

Insider Buying and Selling

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$273.35, for a total value of C$410,025.00. Following the completion of the sale, the director directly owned 16,182 shares in the company, valued at C$4,423,349.70. This trade represents a 8.48% decrease in their ownership of the stock. 0.08% of the stock is owned by insiders.

Agnico Eagle Mines Company Profile

Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.