Agnico Eagle Mines (TSE:AEM) Price Target Cut to C$305.00 by Analysts at National Bank Financial

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its target price lowered by equities researchers at National Bank Financial from C$310.00 to C$305.00 in a research note issued on Friday, BayStreet reports. The firm presently has an “outperform” rating on the stock. National Bank Financial‘s target price indicates a potential upside of 34.63% from the stock’s current price.

Other equities analysts have also issued reports about the company. Stifel Nicolaus decreased their price objective on Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th. TD cut their price target on shares of Agnico Eagle Mines from C$244.00 to C$242.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Freedom Broker cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 22nd. Barclays lowered their price objective on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. Finally, Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus target price of C$292.00.

Agnico Eagle Mines Trading Down 7.7%

Shares of AEM traded down C$18.99 during trading hours on Friday, reaching C$226.55. The stock had a trading volume of 827,298 shares, compared to its average volume of 999,399. The company has a market cap of C$113.50 billion, a P/E ratio of 19.40, a P/E/G ratio of 22.97 and a beta of 2.00. Agnico Eagle Mines has a 52 week low of C$188.48 and a 52 week high of C$348.94. The company has a quick ratio of 0.89, a current ratio of 2.75 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average of C$271.48 and a 200 day moving average of C$263.06.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its earnings results on Wednesday, October 28th. The company reported C$3.72 earnings per share for the quarter. Agnico Eagle Mines had a return on equity of 22.64% and a net margin of 41.00%. The firm had revenue of C$5.10 billion for the quarter. On average, sell-side analysts expect 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 stock was sold at an average price of C$273.35, for a total value of C$410,025.00. Following the transaction, the director owned 16,182 shares in the company, valued at approximately C$4,423,349.70. This trade represents a 8.48% decrease in their position. 0.08% of the stock is owned by corporate insiders.

Agnico Eagle Mines Company Profile

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.