Agnico Eagle Mines Ltd. (NYSE:AEM) – Research analysts at National Bank Financial reduced their FY2016 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a report released on Wednesday. National Bank Financial analyst S. Parsons now forecasts that the brokerage will post earnings per share of $0.48 for the year, down from their prior estimate of $0.68. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2017 earnings at $1.22 EPS.

Other analysts have also issued research reports about the stock. Desjardins raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 13th. HSBC reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Thursday, July 7th. Zacks Investment Research raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Monday, July 18th. BMO Capital Markets reaffirmed a “hold” rating and set a $55.00 price target on shares of Agnico Eagle Mines in a research report on Thursday, July 28th. Finally, TD Securities reaffirmed a “hold” rating and set a $56.00 price target on shares of Agnico Eagle Mines in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $53.05.

Earnings History and Estimates for Agnico Eagle Mines (NYSE:AEM)

Agnico Eagle Mines (NYSE:AEM) opened at 46.17 on Monday. Agnico Eagle Mines has a 12-month low of $24.80 and a 12-month high of $60.10. The stock’s 50 day moving average is $51.18 and its 200-day moving average is $49.97. The company has a market capitalization of $10.32 billion, a P/E ratio of 318.41 and a beta of -0.84.

Agnico Eagle Mines (NYSE:AEM) last posted its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06. The company had revenue of $537.60 million for the quarter, compared to analyst estimates of $507.37 million. Agnico Eagle Mines had a net margin of 1.61% and a return on equity of 1.88%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bayesian Capital Management LP bought a new position in Agnico Eagle Mines during the first quarter worth approximately $262,000. AMP Capital Investors Ltd boosted its position in Agnico Eagle Mines by 2.8% in the first quarter. AMP Capital Investors Ltd now owns 63,262 shares of the mining company’s stock worth $2,331,000 after buying an additional 1,741 shares during the period. Wellington Management Group LLP boosted its position in Agnico Eagle Mines by 144.5% in the first quarter. Wellington Management Group LLP now owns 546,945 shares of the mining company’s stock worth $19,778,000 after buying an additional 323,286 shares during the period. USA Mutuals Advisors Inc. bought a new position in Agnico Eagle Mines during the first quarter worth approximately $181,000. Finally, AXA boosted its position in Agnico Eagle Mines by 5.1% in the first quarter. AXA now owns 67,770 shares of the mining company’s stock worth $2,462,000 after buying an additional 3,304 shares during the period. 62.03% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited is a 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. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

5 Day Chart for NYSE:AEM

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