Barclays Issues Pessimistic Forecast for Agnico Eagle Mines (TSE:AEM) Stock Price

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price objective cut by equities researchers at Barclays from C$298.00 to C$266.00 in a research report issued on Thursday,BayStreet.CA reports. Barclays‘s target price points to a potential upside of 37.93% from the company’s previous close.

AEM has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Agnico Eagle Mines from C$321.00 to C$300.00 in a research note on Thursday, April 23rd. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “sector” rating to an “outperform” rating in a report on Monday, May 4th. Erste Group Bank downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. BMO Capital Markets increased 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. Finally, Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus target price of C$302.00.

Agnico Eagle Mines Price Performance

TSE:AEM traded down C$7.30 during trading hours on Thursday, reaching C$192.85. The company had a trading volume of 556,158 shares, compared to its average volume of 1,017,615. The stock has a 50-day moving average of C$234.20 and a two-hundred day moving average of C$265.27. Agnico Eagle Mines has a one year low of C$160.76 and a one year high of C$348.94. The firm has a market capitalization of C$96.62 billion, a PE ratio of 18.16, a PEG ratio of 22.97 and a beta of 1.84. 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 (TSE:AEM) (NYSE:AEM) last announced its earnings results on Thursday, April 30th. The company reported C$4.73 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 39.48% and a return on equity of 22.08%. The company had revenue of C$5.70 billion for the quarter. Analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

About Agnico Eagle Mines

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.