Agnico Eagle Mines (TSE:AEM) Stock Rating Lowered by Freedom Broker

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) was downgraded by Freedom Broker from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Zacks reports.

A number of other research firms have also recently commented on AEM. 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 decreased their price target on shares of Agnico Eagle Mines from C$244.00 to C$242.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays lowered their price objective on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. National Bank Financial dropped their price objective 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 note on Tuesday. Finally, Stifel Nicolaus cut their target price on shares of Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$292.71.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at C$243.39 on Thursday. The company has a quick ratio of 0.89, a current ratio of 2.86 and a debt-to-equity ratio of 1.12. Agnico Eagle Mines has a twelve month low of C$188.48 and a twelve month high of C$348.94. The company has a market cap of C$121.94 billion, a P/E ratio of 20.84, a P/E/G ratio of 22.97 and a beta of 2.00. The business has a fifty day simple moving average of C$273.27 and a 200 day simple moving average of C$252.49.

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

Insider Activity

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