Agnico Eagle Mines (NYSE:AEM) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Several other equities research analysts have also recently weighed in on AEM. Raymond James set a $105.00 price target on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. TD Securities dropped their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.78.

Agnico Eagle Mines Trading Down 0.5 %

Shares of AEM opened at $97.04 on Tuesday. The company’s fifty day moving average is $88.31 and its 200 day moving average is $84.39. Agnico Eagle Mines has a fifty-two week low of $47.73 and a fifty-two week high of $101.45. The stock has a market capitalization of $48.80 billion, a PE ratio of 25.67, a P/E/G ratio of 0.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Sell-side analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Institutional Trading of Agnico Eagle Mines

A number of large investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. boosted its stake in shares of Agnico Eagle Mines by 2.0% during the fourth quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company’s stock valued at $428,000 after purchasing an additional 106 shares during the period. Duncker Streett & Co. Inc. lifted its stake in Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after acquiring an additional 112 shares during the period. Laird Norton Wetherby Wealth Management LLC lifted its stake in Agnico Eagle Mines by 1.8% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company’s stock worth $543,000 after acquiring an additional 120 shares during the period. Pinnacle Wealth Management Group Inc. lifted its stake in Agnico Eagle Mines by 0.5% in the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock worth $1,909,000 after acquiring an additional 125 shares during the period. Finally, Diversify Wealth Management LLC lifted its stake in Agnico Eagle Mines by 2.1% in the fourth quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock worth $569,000 after acquiring an additional 141 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.