Trading Report: Today, Credit Suisse Group AG Reaffirmed “Buy” Rating for Agnico Eagle Mines Ltd. (AEM)

Today, Credit Suisse Group AG Reaffirmed “Buy” Rating for Agnico Eagle Mines Ltd. (AEM)

Agnico Eagle Mines Ltd. (NYSE:AEM) (TSE:AEM)‘s stock had its “buy” rating restated by equities researchers at Credit Suisse Group AG in a research note issued on Friday. They presently have a $69.00 price objective on the mining company’s stock. Credit Suisse Group AG’s price target indicates a potential upside of 73.19% from the company’s current price.

Other analysts have also issued reports about the stock. BMO Capital Markets set a $72.30 price objective on shares of Agnico Eagle Mines and gave the company a “hold” rating in a report on Sunday, September 18th. Barclays PLC boosted their price objective on shares of Agnico Eagle Mines from $50.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Zacks Investment Research lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. Citigroup Inc. started coverage on shares of Agnico Eagle Mines in a report on Tuesday, August 2nd. They issued a “sell” rating and a $44.00 price objective on the stock. Finally, Raymond James Financial Inc. upgraded shares of Agnico Eagle Mines from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. Agnico Eagle Mines currently has an average rating of “Buy” and an average target price of $57.13.

Shares of Agnico Eagle Mines (NYSE:AEM) traded up 2.61% during mid-day trading on Friday, reaching $40.88. The company’s stock had a trading volume of 1,314,860 shares. Agnico Eagle Mines has a 52-week low of $24.93 and a 52-week high of $60.10. The company has a market cap of $9.18 billion, a PE ratio of 114.83 and a beta of -0.42. The company 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 announced its quarterly earnings results on Wednesday, October 26th. The mining company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $610.86 million for the quarter, compared to analysts’ expectations of $555.47 million. Agnico Eagle Mines had a net margin of 3.80% and a return on equity of 2.27%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS. Equities analysts expect that Agnico Eagle Mines will post $0.66 earnings per share for the current year.

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

A number of institutional investors have recently made changes to their positions in AEM. Wellington Management Group LLP increased its position in shares of Agnico Eagle Mines by 144.5% in the first quarter. Wellington Management Group LLP now owns 546,945 shares of the mining company’s stock worth $19,778,000 after buying an additional 323,286 shares during the period. AMP Capital Investors Ltd increased its position in shares of Agnico Eagle Mines by 2.8% in the first quarter. AMP Capital Investors Ltd now owns 63,262 shares of the mining company’s stock worth $2,331,000 after buying an additional 1,741 shares during the period. LPL Financial LLC increased its position in shares of Agnico Eagle Mines by 507.7% in the first quarter. LPL Financial LLC now owns 88,886 shares of the mining company’s stock worth $3,238,000 after buying an additional 74,260 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Agnico Eagle Mines by 219.5% in the second quarter. BNP Paribas Arbitrage SA now owns 40,181 shares of the mining company’s stock worth $2,150,000 after buying an additional 27,605 shares during the period. Finally, British Columbia Investment Management Corp increased its position in shares of Agnico Eagle Mines by 6.1% in the second quarter. British Columbia Investment Management Corp now owns 33,200 shares of the mining company’s stock worth $1,368,000 after buying an additional 1,900 shares during the period. 62.14% of the stock is owned by hedge funds and other institutional investors.

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