Barclays Lowers Agnico Eagle Mines (TSE:AEM) Price Target to C$266.00

Key Points

• Barclays cut its price target on Agnico Eagle Mines to C$266 from C$298, though that still implies about 37.9% upside from the current share price.
• Analyst sentiment remains generally positive: the stock has a Moderate Buy consensus, with recent rating changes including upgrades from Jefferies and ATB Cormark and a price-target boost from BMO Capital Markets.
• Agnico Eagle shares were trading lower on the day at C$192.85; the company recently reported C$4.73 EPS on C$5.70 billion in quarterly revenue.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM had its target price reduced by analysts at Barclays from C$298.00 to C$266.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Barclays's price objective points to a potential upside of 37.93% from the stock's current price.

Several other equities research analysts also recently commented on AEM. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Erste Group Bank downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 24th. BMO Capital Markets upped their price target on shares of Agnico Eagle Mines from C$350.00 to C$370.00 in a report on Wednesday, April 22nd. National Bank Financial decreased their price objective on shares of Agnico Eagle Mines from C$350.00 to C$275.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a "sector" rating to an "outperform" rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$302.00.

Agnico Eagle Mines Stock Performance

TSE:AEM traded down C$7.30 during mid-day trading on Thursday, reaching C$192.85. The stock had a trading volume of 556,158 shares, compared to its average volume of 1,017,615. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.89 and a current ratio of 3.15. The firm has a market capitalization of C$96.62 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 22.97 and a beta of 1.84. Agnico Eagle Mines has a twelve month low of C$160.76 and a twelve month high of C$348.94. The business has a 50 day simple moving average of C$234.20 and a 200 day simple moving average of C$265.27.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last issued its quarterly earnings results on Thursday, April 30th. The company reported C$4.73 earnings per share (EPS) for the quarter. The firm had revenue of C$5.70 billion for the quarter. Agnico Eagle Mines had a return on equity of 22.08% and a net margin of 39.48%. On average, analysts expect that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

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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