Agnico Eagle Mines (AEM) Stock Rating Reaffirmed by Raymond James

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Raymond James reaffirmed their outperform rating on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a research note published on Monday, BayStreet.CA reports. Raymond James currently has a $56.00 price target on the mining company’s stock.

Several other brokerages have also recently issued reports on AEM. CIBC reissued a buy rating on shares of Agnico Eagle Mines in a research report on Sunday, January 20th. Desjardins reissued an average rating and issued a $60.00 target price on shares of Agnico Eagle Mines in a research report on Monday, January 7th. ValuEngine raised Agnico Eagle Mines from a hold rating to a buy rating in a research report on Tuesday, February 19th. Zacks Investment Research cut Agnico Eagle Mines from a hold rating to a sell rating in a research report on Thursday, January 3rd. Finally, GMP Securities raised Agnico Eagle Mines from a hold rating to a buy rating in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $51.10.

NYSE AEM opened at $40.30 on Monday. The stock has a market capitalization of $9.65 billion, a P/E ratio of 138.03, a price-to-earnings-growth ratio of 81.20 and a beta of -0.52. The company has a quick ratio of 1.60, a current ratio of 2.96 and a debt-to-equity ratio of 0.39. Agnico Eagle Mines has a one year low of $32.18 and a one year high of $47.83.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 25th. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.07. The business had revenue of $532.20 million for the quarter, compared to analysts’ expectations of $515.52 million. Agnico Eagle Mines had a positive return on equity of 1.47% and a negative net margin of 15.60%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. On average, sell-side analysts expect that Agnico Eagle Mines will post 0.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.219 per share. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.11. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, May 30th.

Hedge funds have recently bought and sold shares of the company. PRW Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $26,000. Lenox Wealth Management Inc. lifted its position in shares of Agnico Eagle Mines by 61.6% during the 4th quarter. Lenox Wealth Management Inc. now owns 771 shares of the mining company’s stock valued at $31,000 after buying an additional 294 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in shares of Agnico Eagle Mines by 91.9% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,025 shares of the mining company’s stock valued at $35,000 after buying an additional 491 shares in the last quarter. Optimum Investment Advisors purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $40,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $99,000. 61.03% of the stock is currently owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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