Agnico Eagle Mines (TSE:AEM) Price Target Cut to C$242.00 by Analysts at TD

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its target price reduced by equities research analysts at TD from C$244.00 to C$242.00 in a report issued on Tuesday, BayStreet reports. The firm presently has a “buy” rating on the stock. TD’s price objective suggests a potential downside of 7.92% from the company’s current price.

AEM has been the subject of a number of other reports. National Bank Financial reduced 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 report on Tuesday. Stifel Nicolaus lowered their target price on shares of Agnico Eagle Mines from C$350.00 to C$310.00 in a research note on Friday, July 17th. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Barclays dropped their price target on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average target price of C$292.71.

Agnico Eagle Mines Stock Performance

TSE AEM traded down C$1.83 during trading on Tuesday, hitting C$262.81. The company’s stock had a trading volume of 212,854 shares, compared to its average volume of 1,011,564. Agnico Eagle Mines has a 52 week low of C$188.48 and a 52 week high of C$348.94. The firm has a market cap of C$131.66 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 22.97 and a beta of 2.00. The firm has a 50 day moving average price of C$273.40 and a 200 day moving average price of C$253.26. 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 (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$4.33 EPS for the quarter. Agnico Eagle Mines had a net margin of 40.45% and a return on equity of 22.69%. The business had revenue of C$5.53 billion during the quarter. Equities research analysts forecast that Agnico Eagle Mines will post 5.50 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Merfyn Roberts sold 1,500 shares of Agnico Eagle Mines stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of C$273.35, for a total transaction of C$410,025.00. Following the transaction, the director directly owned 16,182 shares of the company’s stock, 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.

About Agnico Eagle Mines

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.