Shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) have been given a consensus recommendation of “Buy” by the seventeen research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $51.11.
Several equities analysts have recently weighed in on the stock. Scotiabank set a $56.00 price target on shares of Agnico Eagle Mines and gave the stock a “buy” rating in a research note on Tuesday, October 30th. BMO Capital Markets set a $45.00 price objective on shares of Agnico Eagle Mines and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Canaccord Genuity reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, October 22nd. Barclays assumed coverage on shares of Agnico Eagle Mines in a research report on Wednesday, October 10th. They set an “overweight” rating and a $39.00 price objective for the company. Finally, Zacks Investment Research cut shares of Agnico Eagle Mines from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th.
A number of hedge funds and other institutional investors have recently modified their holdings of AEM. Sei Investments Co. lifted its position in shares of Agnico Eagle Mines by 160.2% in the 2nd quarter. Sei Investments Co. now owns 3,562 shares of the mining company’s stock worth $163,000 after purchasing an additional 2,193 shares during the period. US Bancorp DE increased its holdings in Agnico Eagle Mines by 54.5% in the 2nd quarter. US Bancorp DE now owns 3,750 shares of the mining company’s stock valued at $171,000 after acquiring an additional 1,323 shares during the last quarter. Pendal Group Ltd increased its holdings in shares of Agnico Eagle Mines by 97.1% in the second quarter. Pendal Group Ltd now owns 3,939 shares of the mining company’s stock worth $181,000 after purchasing an additional 1,941 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Agnico Eagle Mines in the second quarter worth about $206,000. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Agnico Eagle Mines in the second quarter worth about $211,000. 59.68% of the stock is currently owned by hedge funds and other institutional investors.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, October 24th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.06. The company had revenue of $518.68 million during the quarter, compared to the consensus estimate of $497.68 million. Agnico Eagle Mines had a return on equity of 1.75% and a net margin of 4.60%. The firm’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. On average, research analysts predict that Agnico Eagle Mines will post 0.15 earnings per share for the current year.
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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