Agnico Eagle Mines (NYSE:AEM) Lowered to “Neutral” Rating by UBS Group

UBS Group downgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a buy rating to a neutral rating in a report issued on Monday, MarketBeat Ratings reports. UBS Group currently has $110.00 price target on the mining company’s stock, up from their previous price target of $100.00.

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Scotiabank boosted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. TD Securities reduced their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Finally, Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $104.11.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $107.52 on Monday. The firm has a market capitalization of $54.08 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 0.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $99.18 and a 200-day simple moving average of $88.41. Agnico Eagle Mines has a 1 year low of $60.15 and a 1 year high of $110.36.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Equities analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.49%. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new position in Agnico Eagle Mines in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in shares of Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $29,000. Fifth Third Bancorp lifted its position in Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its position in Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.