Agnico Eagle Mines (NYSE:AEM) Downgraded by UBS Group to “Neutral”

UBS Group cut shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a buy rating to a neutral rating in a report issued on Monday morning, MarketBeat reports. They currently have $110.00 price objective on the mining company’s stock, up from their prior price objective of $100.00.

A number of other analysts have also recently commented on AEM. Royal Bank of Canada upped their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Scotiabank boosted their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. TD Securities decreased their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Finally, Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $104.11.

Agnico Eagle Mines Stock Performance

AEM opened at $108.43 on Monday. The company’s 50 day moving average is $98.43 and its 200 day moving average is $88.10. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $54.54 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines has a 12-month low of $60.15 and a 12-month high of $110.36.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share 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, equities research analysts predict that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.48%. Agnico Eagle Mines’s payout ratio is 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Agnico Eagle Mines by 78.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock worth $255,000 after acquiring an additional 1,431 shares during the last quarter. Caldwell Investment Management Ltd. grew its holdings in shares of Agnico Eagle Mines by 12.0% in the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock valued at $6,812,000 after purchasing an additional 9,400 shares in the last quarter. Forsta AP Fonden increased its position in Agnico Eagle Mines by 8.9% in the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after purchasing an additional 16,000 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Agnico Eagle Mines by 14.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock worth $18,223,000 after purchasing an additional 29,106 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Agnico Eagle Mines by 8.6% during the third quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company’s stock valued at $183,491,000 after purchasing an additional 178,999 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other 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.