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

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its target price cut by Barclays from C$298.00 to C$266.00 in a report issued on Thursday,BayStreet.CA reports. Barclays‘s price target would indicate a potential upside of 38.59% from the stock’s current price.

A number of other research analysts have also recently weighed in on AEM. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. cut their price target on Agnico Eagle Mines from C$321.00 to C$300.00 in a research note on Thursday, April 23rd. Erste Group Bank cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. National Bank Financial lowered their price objective on Agnico Eagle Mines from C$350.00 to C$275.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets upped their price objective on Agnico Eagle Mines from C$350.00 to C$370.00 in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of C$295.33.

Agnico Eagle Mines Price Performance

TSE AEM opened at C$191.93 on Thursday. Agnico Eagle Mines has a 12 month low of C$161.45 and a 12 month high of C$348.94. The stock has a market cap of C$96.15 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 22.97 and a beta of 1.84. The company’s 50 day moving average is C$231.48 and its two-hundred day moving average is C$264.37. The company has a current ratio of 3.15, a quick ratio of 0.89 and a debt-to-equity ratio of 1.21.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings results on Thursday, April 30th. The company reported C$4.73 earnings per share for the quarter. The business had revenue of C$5.70 billion during the quarter. Agnico Eagle Mines had a net margin of 39.48% and a return on equity of 22.08%. As a group, research analysts anticipate 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.