Canaccord Genuity Lowers Agnico Eagle Mines (TSE:AEM) Price Target to C$110.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price objective decreased by equities research analysts at Canaccord Genuity from C$115.00 to C$110.00 in a research note issued on Tuesday, BayStreet.CA reports. Canaccord Genuity’s price objective suggests a potential upside of 44.41% from the company’s current price.

Several other equities analysts also recently commented on AEM. Royal Bank of Canada restated a “sector perform” rating on shares of Agnico Eagle Mines in a research report on Friday, February 12th. Raymond James boosted their price objective on Agnico Eagle Mines to C$115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 17th. Cormark boosted their price objective on Agnico Eagle Mines to C$122.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 17th. TD Securities cut their target price on Agnico Eagle Mines to C$85.00 and set a “buy” rating on the stock in a research note on Tuesday, February 16th. Finally, JPMorgan Chase & Co. cut their target price on Agnico Eagle Mines to C$103.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of C$114.14.

TSE AEM traded down C$2.42 on Tuesday, hitting C$76.17. 297,610 shares of the company traded hands, compared to its average volume of 665,584. The company has a market capitalization of C$18.53 billion and a price-to-earnings ratio of 36.27. The company has a current ratio of 2.42, a quick ratio of 0.82 and a debt-to-equity ratio of 29.66. The business’s 50 day moving average price is C$88.18 and its 200-day moving average price is C$97.36. Agnico Eagle Mines has a 52-week low of C$43.25 and a 52-week high of C$117.35.

In related news, Director Robert Gemmell sold 2,208 shares of the stock in a transaction that occurred on Thursday, December 31st. The stock was sold at an average price of C$90.29, for a total value of C$199,360.32. Following the completion of the transaction, the director now directly owns 4,792 shares in the company, valued at C$432,669.68. Also, Senior Officer Ammar Al-Joundi sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of C$88.41, for a total value of C$1,768,200.00. Following the completion of the transaction, the insider now owns 117,542 shares of the company’s stock, valued at C$10,391,888.22. Insiders have sold a total of 118,279 shares of company stock worth $10,592,311 over the last ninety days.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

Further Reading: Stocks at 52 Week High

Analyst Recommendations for Agnico Eagle Mines (TSE:AEM)

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