Stifel Nicolaus Cuts Agnico Eagle Mines (TSE:AEM) Price Target to C$310.00

Key Points

• Stifel Nicolaus cut its price target on Agnico Eagle Mines to C$310 from C$350, though that still implies about 62% upside from the current share price.
• Other analysts were mixed: National Bank Financial and Barclays also lowered targets, while Jefferies upgraded the stock and ATB Cormark raised its rating to outperform. Overall, MarketBeat shows a Moderate Buy consensus with an average price target of C$295.33.
• Agnico Eagle Mines shares fell 1.1% to C$190.85 on Friday, with the stock trading well below both its 50-day and 200-day moving averages.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM had its price objective decreased by equities researchers at Stifel Nicolaus from C$350.00 to C$310.00 in a report issued on Friday,BayStreet.CA reports. Stifel Nicolaus' price target would indicate a potential upside of 62.43% from the stock's current price.

Several other research analysts also recently commented on the company. Erste Group Bank downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 24th. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a "sector" rating to an "outperform" rating in a research note on Monday, May 4th. National Bank Financial reduced their target price on Agnico Eagle Mines from C$350.00 to C$275.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Barclays decreased their target price on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday. Two 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$295.33.

Agnico Eagle Mines Trading Down 1.1%

Shares of AEM stock traded down C$2.05 during trading hours on Friday, hitting C$190.85. 350,082 shares of the company's stock traded hands, compared to its average volume of 1,015,049. The stock has a market cap of C$95.61 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 22.97 and a beta of 1.84. The stock's 50 day simple moving average is C$232.93 and its 200 day simple moving average is C$264.88. The company has a quick ratio of 0.89, a current ratio of 3.15 and a debt-to-equity ratio of 1.21. Agnico Eagle Mines has a 12 month low of C$161.45 and a 12 month high of C$348.94.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.