Barclays Has Lowered Expectations for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target lowered by stock analysts at Barclays from $213.00 to $210.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the mining company’s stock. Barclays‘s target price points to a potential upside of 36.54% from the stock’s previous close.

AEM has been the topic of a number of other research reports. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their target price for the company from $187.00 to $200.00 in a research report on Monday. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Finally, Canadian Imperial Bank of Commerce increased their target price on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.85.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $153.80 on Monday. The firm has a 50-day simple moving average of $174.55 and a two-hundred day simple moving average of $193.71. The stock has a market cap of $78.06 billion, a PE ratio of 14.45, a P/E/G ratio of 3.37 and a beta of 0.60. Agnico Eagle Mines has a 1-year low of $115.19 and a 1-year high of $255.24. 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 issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping 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 net margin of 39.46% and a return on equity of 21.09%. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 EPS. As a group, analysts forecast that Agnico Eagle Mines will post 13.22 EPS for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Salvus Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 0.9% during the fourth quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company’s stock worth $1,068,000 after acquiring an additional 57 shares during the period. Brookwood Investment Group LLC grew its stake in Agnico Eagle Mines by 4.5% during the 4th quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company’s stock worth $231,000 after purchasing an additional 58 shares in the last quarter. Baron Wealth Management LLC grew its stake in Agnico Eagle Mines by 3.2% during the 4th quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company’s stock worth $319,000 after purchasing an additional 59 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Agnico Eagle Mines by 1.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock worth $893,000 after purchasing an additional 59 shares during the period. Finally, Baker Ellis Asset Management LLC increased its holdings in Agnico Eagle Mines by 0.8% during the 4th quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company’s stock worth $1,280,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.