JPMorgan Chase & Co. Has Lowered Expectations for Agnico Eagle Mines (TSE:AEM) Stock Price

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from C$321.00 to C$300.00 in a research note issued on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.73% from the stock’s previous close.

AEM has been the topic of a number of other research reports. Erste Group Bank lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. TD Securities lifted their price objective on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Stifel Nicolaus lifted their price target on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. BMO Capital Markets lifted their price target on shares of Agnico Eagle Mines from C$350.00 to C$370.00 in a research report on Wednesday. Finally, National Bank Financial lifted their price target on shares of Agnico Eagle Mines from C$330.00 to C$345.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$323.20.

Agnico Eagle Mines Price Performance

Shares of AEM opened at C$273.41 on Thursday. Agnico Eagle Mines has a twelve month low of C$144.21 and a twelve month high of C$348.94. The stock’s 50 day moving average is C$294.02 and its two-hundred day moving average is C$263.89. The firm has a market capitalization of C$136.98 billion, a PE ratio of 30.86, a P/E/G ratio of 22.97 and a beta of 1.87. The company has a current ratio of 2.02, a quick ratio of 0.89 and a debt-to-equity ratio of 1.68.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings data on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. Agnico Eagle Mines had a return on equity of 19.37% and a net margin of 37.50%.The company had revenue of C$4.89 billion for the quarter. Research analysts anticipate that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Insider Activity

In other news, insider Guy Gosselin sold 4,947 shares of Agnico Eagle Mines stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the completion of the sale, the insider directly owned 31,381 shares in the company, valued at approximately C$9,728,110. This trade represents a 13.62% decrease in their position. Insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.