Agnico Eagle Mines (NYSE:AEM) Price Target Lowered to $200.00 at Citigroup

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price decreased by Citigroup from $256.00 to $200.00 in a research report sent to investors on Monday morning,BayStreet.CA reports. Citigroup currently has a buy rating on the mining company’s stock.

AEM has been the topic of several other reports. TD increased their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. UBS Group decreased their price target on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. JPMorgan Chase & Co. lowered their price objective on shares of Agnico Eagle Mines from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Scotia lowered their price objective on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Finally, Royal Bank Of Canada dropped their price objective on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $225.69.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $145.89 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The stock has a market cap of $74.05 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60. The stock has a 50-day moving average of $159.78 and a 200-day moving average of $190.32. Agnico Eagle Mines has a one year low of $122.32 and a one year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS. As a group, sell-side analysts expect that Agnico Eagle Mines will post 11.83 earnings per share for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently bought and sold shares of AEM. Acumen Wealth Advisors LLC acquired a new position in Agnico Eagle Mines during the fourth quarter worth $26,000. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $35,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $35,000. Allied Private Wealth LLC bought a new position in Agnico Eagle Mines in the second quarter valued at approximately $36,000. Finally, Bangor Savings Bank bought a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.