Agnico Eagle Mines (NYSE:AEM) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) announced its quarterly earnings data on Wednesday. The mining company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.15, Briefing.com reports. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 22.31%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.10 EPS.

Agnico Eagle Mines Trading Down 6.7%

NYSE AEM traded down $11.77 during trading on Friday, reaching $164.15. 1,267,573 shares of the stock traded hands, compared to its average volume of 2,599,508. The firm has a market cap of $83.21 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 2.71 and a beta of 0.64. Agnico Eagle Mines has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $193.66 and its 200 day moving average price is $189.62.

Analysts Set New Price Targets

AEM has been the topic of several research reports. Weiss Ratings upgraded shares of Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Bank of America decreased their price target on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 9th. RBC Dominion Securities set a $225.00 price objective on shares of Agnico Eagle Mines and gave the company a “sector perform” rating in a research report on Thursday, October 22nd. Zacks Research upgraded Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Finally, Citigroup lowered their target price on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $227.00.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.