Citigroup Lowers Agnico Eagle Mines (NYSE:AEM) Price Target to $200.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price lowered by analysts at Citigroup from $256.00 to $200.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the mining company’s stock. Citigroup’s price target points to a potential upside of 37.92% from the stock’s current price.

AEM has been the subject of several other research reports. UBS Group reduced their price target on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Scotia decreased their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 3rd. JPMorgan Chase & Co. lowered their target price on Agnico Eagle Mines from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce set a $285.00 price target on shares of Agnico Eagle Mines in a report on Thursday, July 16th. Finally, Barclays reduced their target price on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.69.

Agnico Eagle Mines Stock Down 0.1%

Shares of AEM stock traded down $0.12 during trading hours on Monday, reaching $145.01. 1,189,750 shares of the stock were exchanged, compared to its average volume of 2,687,021. Agnico Eagle Mines has a 12-month low of $122.32 and a 12-month high of $255.24. The business’s fifty day moving average is $160.44 and its two-hundred day moving average is $190.56. The firm has a market capitalization of $73.60 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.21 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 earnings per share. As a group, research analysts expect that Agnico Eagle Mines will post 11.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after acquiring an additional 331 shares in the last quarter. AQR Capital Management LLC increased its position in Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after acquiring an additional 5,293 shares during the period. Sivia Capital Partners LLC lifted its holdings in Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after purchasing an additional 1,160 shares during the period. Rhumbline Advisers increased its stake in shares of Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after acquiring an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after buying an additional 187 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Company Profile

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.