National Bank Financial Issues Pessimistic Forecast for Agnico Eagle Mines (TSE:AEM) Stock Price

Key Points

• National Bank Financial cut its price target on Agnico Eagle Mines from C$350 to C$275, while keeping an outperform rating on the stock. The new target still implies about 35% upside from the previous close.
• Analyst sentiment remains generally constructive, with the stock carrying an average “Moderate Buy” rating and an average target price of C$306.33. Recent actions from other firms have been mixed, including upgrades from ATB Cormark and Jefferies but a downgrade from Erste Group Bank.
• Shares of Agnico Eagle Mines traded at C$203.66, below both its 50-day and 200-day moving averages. The company recently reported C$4.73 EPS on C$5.70 billion in revenue for the quarter, and analysts expect 5.50 EPS for the current fiscal year.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM had its price objective reduced by equities researchers at National Bank Financial from C$350.00 to C$275.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 35.03% from the company's previous close.

AEM has been the subject of several other reports. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a "sector" rating to an "outperform" rating in a report on Monday, May 4th. BMO Capital Markets raised their price objective on shares of Agnico Eagle Mines from C$350.00 to C$370.00 in a research report on Wednesday, April 22nd. Jefferies Financial Group raised shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. JPMorgan Chase & Co. reduced their target price on shares of Agnico Eagle Mines from C$321.00 to C$300.00 in a research note on Thursday, April 23rd. Finally, Erste Group Bank downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines has an average rating of "Moderate Buy" and an average target price of C$306.33.

Agnico Eagle Mines Price Performance

Shares of TSE AEM traded up C$0.38 during mid-day trading on Tuesday, reaching C$203.66. 342,440 shares of the company traded hands, compared to its average volume of 1,017,301. Agnico Eagle Mines has a fifty-two week low of C$160.76 and a fifty-two week high of C$348.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.15 and a quick ratio of 0.89. The firm has a market cap of C$102.03 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 22.97 and a beta of 1.84. The stock has a fifty day simple moving average of C$236.19 and a 200-day simple moving average of C$265.92.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last posted its quarterly earnings data on Thursday, April 30th. The company reported C$4.73 EPS for the quarter. The company 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%. Equities research analysts anticipate that Agnico Eagle Mines will post 5.4966052 EPS for the current fiscal year.

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.

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