JPMorgan Chase & Co. Cuts Agnico Eagle Mines (TSE:AEM) Price Target to C$300.00

Key Points

• JPMorgan Chase & Co. cut its price target on Agnico Eagle Mines from C$321 to C$300, implying roughly a 10.11% upside from the prior close.
• Several other brokers raised targets (BMO to C$370, National Bank to C$345, Stifel to C$350) and MarketBeat shows a consensus rating of Moderate Buy with an average price target of C$323.20.
• Shares traded down to C$272.45 mid-day (12‑month range C$144.21–C$348.94) with a market cap of about C$136.49B and a P/E of 30.75, leaving the stock below both JPMorgan’s and the average analyst targets.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM had its price target lowered by analysts at JPMorgan Chase & Co. from C$321.00 to C$300.00 in a note issued to investors on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.'s price objective indicates a potential upside of 10.11% from the stock's previous close.

AEM has been the topic of several other reports. National Bank Financial lifted their price target on Agnico Eagle Mines from C$330.00 to C$345.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. BMO Capital Markets lifted their price target on Agnico Eagle Mines from C$350.00 to C$370.00 in a research report on Wednesday. Erste Group Bank cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. TD Securities lifted their price target on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Finally, Stifel Nicolaus lifted their price target on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of "Moderate Buy" and an average price target of C$323.20.

Agnico Eagle Mines Price Performance

Shares of AEM stock traded down C$6.16 during mid-day trading on Thursday, hitting C$272.45. 424,056 shares of the stock traded hands, compared to its average volume of 1,032,620. Agnico Eagle Mines has a twelve month low of C$144.21 and a twelve month high of C$348.94. The firm has a market cap of C$136.49 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 22.97 and a beta of 1.87. The company's 50-day simple moving average is C$294.60 and its 200-day simple moving average is C$263.58. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.89 and a current ratio of 2.02.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last issued its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a return on equity of 19.37% and a net margin of 37.50%.The company had revenue of C$4.89 billion for the quarter. As a group, equities research analysts expect that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Insider Buying and Selling at Agnico Eagle Mines

In other news, insider Guy Gosselin sold 4,947 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the completion of the sale, the insider directly owned 31,381 shares of the company's stock, valued at C$9,728,110. This trade represents a 13.62% decrease in their position. 0.08% of the stock is currently owned by corporate insiders.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.

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