Agnico Eagle Mines (NYSE:AEM) Cut to Hold at Erste Group Bank

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

Several other analysts also recently weighed in on AEM. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 target price on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Finally, Citigroup boosted their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $234.91.

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Agnico Eagle Mines Trading Up 1.6%

AEM stock opened at $228.11 on Wednesday. Agnico Eagle Mines has a twelve month low of $92.11 and a twelve month high of $229.09. The company has a quick ratio of 1.31, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $194.91 and its two-hundred day simple moving average is $170.83. The stock has a market capitalization of $114.29 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 0.52 and a beta of 0.63.

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

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.45 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is 20.27%.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors increased its position in Agnico Eagle Mines by 2.8% during the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after buying an additional 572,473 shares in the last quarter. Vanguard Group Inc. boosted its stake in Agnico Eagle Mines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after purchasing an additional 309,717 shares in the last quarter. Van ECK Associates Corp grew its position in Agnico Eagle Mines by 21.6% during the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after purchasing an additional 3,062,705 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after purchasing an additional 602,489 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after buying an additional 165,263 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

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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