TheStreet Upgrades Agnico Eagle Mines to Hold (AEM)

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TheStreet upgraded shares of Agnico Eagle Mines (NYSE:AEM) to a hold rating in a research note released on Thursday morning.

TheStreet has also modified their ratings on a number of other basic materials stocks in the few days. The firm downgraded shares of eLong, Inc. from a hold rating to a sell rating. Also, TheStreet downgraded shares of Fuel Tech Inc. from a buy rating to a hold rating. Finally, TheStreet upgraded shares of Foster Wheeler AG from a hold rating to a buy rating.

AEM has been the subject of a number of other recent research reports. Analysts at Raymond James reiterated an outperform rating on shares of Agnico Eagle Mines in a research note on Monday, May 5th. They now have a $39.00 price target on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Agnico Eagle Mines from $36.00 to $37.00 in a research note on Monday, May 5th. They now have an overweight rating on the stock. Finally, analysts at Scotiabank reiterated a sector outperform rating on shares of Agnico Eagle Mines in a research note on Friday, May 2nd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $36.68.

Agnico Eagle Mines (NYSE:AEM) opened at 32.35 on Thursday. Agnico Eagle Mines has a 52-week low of $23.77 and a 52-week high of $35.46. The stock’s 50-day moving average is $30.90 and its 200-day moving average is $29.94. The company’s market cap is $5.631 billion.

Agnico Eagle Mines (NYSE:AEM) last released its earnings data on Thursday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.41. The company had revenue of $491.00 million for the quarter, compared to the consensus estimate of $438.30 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts predict that Agnico Eagle Mines will post $1.15 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, May 29th.

Agnico Eagle Mines Limited (NYSE:AEM) is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States.

To view TheStreet’s full report, visit TheStreet’s official website.

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