Trade Report: Today, Agnico Eagle Mines Ltd. (AEM) Receives Buy Rating from Credit Suisse Group AG

Today, Agnico Eagle Mines Ltd. (AEM) Receives Buy Rating from Credit Suisse Group AG

Agnico Eagle Mines Ltd. (NYSE:AEM) (TSE:AEM)‘s stock had its “buy” rating reiterated by analysts at Credit Suisse Group AG in a report released on Friday. They presently have a $69.00 price target on the mining company’s stock. Credit Suisse Group AG’s target price points to a potential upside of 73.19% from the stock’s current price.

AEM has been the subject of a number of other reports. RBC Capital Markets reissued a “sector perform” rating on shares of Agnico Eagle Mines in a report on Monday, September 19th. TD Securities reissued a “hold” rating and set a $61.00 price objective on shares of Agnico Eagle Mines in a report on Monday, October 31st. Zacks Investment Research raised Agnico Eagle Mines from a “sell” rating to a “hold” rating in a report on Tuesday. Raymond James Financial Inc. raised Agnico Eagle Mines from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 25th. Finally, Citigroup Inc. started coverage on Agnico Eagle Mines in a report on Tuesday, August 2nd. They issued a “sell” rating and a $44.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $57.13.

Agnico Eagle Mines (NYSE:AEM) traded up 2.61% during mid-day trading on Friday, reaching $40.88. 1,313,060 shares of the company’s stock were exchanged. The stock has a market cap of $9.18 billion, a P/E ratio of 114.83 and a beta of -0.42. Agnico Eagle Mines has a 52 week low of $24.93 and a 52 week high of $60.10. The stock has a 50-day moving average price of $46.90 and a 200-day moving average price of $51.10.

Agnico Eagle Mines (NYSE:AEM) last issued its quarterly earnings data on Wednesday, October 26th. The mining company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The company earned $610.86 million during the quarter, compared to analysts’ expectations of $555.47 million. Agnico Eagle Mines had a return on equity of 2.27% and a net margin of 3.80%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share. On average, analysts forecast that Agnico Eagle Mines will post $0.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Tuesday, November 29th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 88.89%.

Several institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in Agnico Eagle Mines by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock valued at $116,000 after buying an additional 157 shares during the period. Creative Planning boosted its position in Agnico Eagle Mines by 25.3% in the third quarter. Creative Planning now owns 2,974 shares of the mining company’s stock valued at $161,000 after buying an additional 600 shares during the period. Seven Eight Capital LLC acquired a new position in Agnico Eagle Mines during the second quarter valued at $198,000. Cipher Capital LP acquired a new position in Agnico Eagle Mines during the second quarter valued at $216,000. Finally, US Bancorp DE boosted its position in Agnico Eagle Mines by 12.3% in the second quarter. US Bancorp DE now owns 4,346 shares of the mining company’s stock valued at $232,000 after buying an additional 476 shares during the period. Institutional investors and hedge funds own 62.14% of the company’s stock.

Agnico Eagle Mines Company Profile

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