Agnico Eagle Mines (NYSE:AEM) Cut to Neutral at UBS Group

UBS Group cut shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a buy rating to a neutral rating in a research note published on Monday morning, MarketBeat Ratings reports. The firm currently has $110.00 target price on the mining company’s stock, up from their previous target price of $100.00.

Several other research firms also recently commented on AEM. National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James set a $105.00 target price on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Scotiabank upped their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus price target of $104.11.

Agnico Eagle Mines Stock Down 0.7 %

Shares of AEM stock opened at $107.52 on Monday. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 12 month low of $60.15 and a 12 month high of $110.36. The stock has a market cap of $54.08 billion, a P/E ratio of 28.44, a P/E/G ratio of 0.66 and a beta of 0.87. The company has a 50 day simple moving average of $99.18 and a two-hundred day simple moving average of $88.41.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. On average, research analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several large investors have recently made changes to their positions in the company. Norges Bank bought a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $573,446,000. Capital World Investors raised its holdings in shares of Agnico Eagle Mines by 41.9% during the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after acquiring an additional 3,155,927 shares during the last quarter. AGF Management Ltd. grew its holdings in shares of Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after purchasing an additional 905,328 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.