Agnico-Eagle Mines Limited Lowered to “Sector Perform” at RBC Capital (AEM)
Agnico-Eagle Mines Limited (NYSE:AEM) was downgraded by investment analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $31.00 target price on the stock, down from their previous target price of $38.00. RBC Capital’s target price would suggest a potential upside of 19.55% from the company’s current price.
A number of other firms have also recently commented on AEM. Analysts at Morgan Stanley upgraded shares of Agnico-Eagle Mines Limited from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, November 26th. They now have a $36.00 price target on the stock, up previously from $28.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Agnico-Eagle Mines Limited in a research note to investors on Wednesday, November 20th. They now have a $29.00 price target on the stock. Finally, analysts at Salman Partners upgraded shares of Agnico-Eagle Mines Limited to a “buy” rating in a research note to investors on Friday, October 25th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.62.
Shares of Agnico-Eagle Mines Limited (NYSE:AEM) traded up 6.25% on Friday, hitting $27.55. The stock had a trading volume of 1,216,267 shares. Agnico-Eagle Mines Limited has a one year low of $23.77 and a one year high of $54.84. The stock’s 50-day moving average is $27.84 and its 200-day moving average is $28.21. The company has a market cap of $4.778 billion and a P/E ratio of 34.67.
Agnico-Eagle Mines Limited (NYSE:AEM) last announced its earnings results on Wednesday, October 23rd. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.26. The company had revenue of $44.30 million for the quarter, compared to the consensus estimate of $369.26 million. During the same quarter last year, the company posted $0.77 earnings per share. Agnico-Eagle Mines Limited’s revenue was down 17.1% compared to the same quarter last year. On average, analysts predict that Agnico-Eagle Mines Limited will post $0.89 earnings per share for the current fiscal year.
Agnico-Eagle Mines Limited (NYSE:AEM) is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States.
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