Agnico Eagle Mines (TSE:AEM) Stock Gets Downgrade from Freedom Broker

Key Points

• Freedom Broker downgraded Agnico Eagle Mines from “strong buy” to “hold,” while several analysts also reduced their price targets. Despite this, the stock retains a consensus “Moderate Buy” rating with an average target of C$292.71.
• Agnico Eagle shares opened at C$243.39, below their 50-day moving average of C$273.27 and 200-day moving average of C$252.49. The company has a market capitalization of approximately C$121.94 billion and a price-to-earnings ratio of 20.84.
• The miner reported quarterly earnings of C$4.33 per share and revenue of C$5.53 billion, with a 40.45% net margin and 22.69% return on equity. An insider director separately sold 1,500 shares worth about C$410,025.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM was downgraded by Freedom Broker from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday, Zacks reports.

Several other equities analysts have also issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Agnico Eagle Mines from C$350.00 to C$310.00 in a report on Friday, July 17th. National Bank Financial lowered their price target on Agnico Eagle Mines from C$315.00 to C$310.00 and set an "outperform" rating for the company in a report on Tuesday. TD dropped their price target on Agnico Eagle Mines from C$244.00 to C$242.00 and set a "buy" rating on the stock in a research report on Tuesday. Barclays cut their price objective on Agnico Eagle Mines from C$298.00 to C$266.00 in a report on Thursday, July 16th. Finally, Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$292.71.

Agnico Eagle Mines Stock Down 1.3%

Shares of TSE AEM opened at C$243.39 on Thursday. Agnico Eagle Mines has a 1 year low of C$188.48 and a 1 year high of C$348.94. The firm's 50-day moving average is C$273.27 and its 200-day moving average is C$252.49. The company has a current ratio of 2.86, a quick ratio of 0.89 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of C$121.94 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 22.97 and a beta of 2.00.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last released its earnings results on Wednesday, July 29th. The company reported C$4.33 EPS for the quarter. Agnico Eagle Mines had a net margin of 40.45% and a return on equity of 22.69%. The firm had revenue of C$5.53 billion during the quarter. Equities analysts expect that Agnico Eagle Mines will post 5.50 EPS for the current year.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, the director owned 16,182 shares in the company, valued at approximately C$4,423,349.70. The trade was a 8.48% decrease in their position. Corporate insiders own 0.08% of the company's stock.

About Agnico Eagle Mines

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.

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