UBS Group Downgrades Agnico Eagle Mines (NYSE:AEM) to Neutral

UBS Group lowered shares of Agnico Eagle Mines (NYSE:AEM - Free Report) TSE: AEM from a buy rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat.com reports. UBS Group currently has $110.00 price objective on the mining company's stock, up from their previous price objective of $100.00.

Several other research firms have also recently commented on AEM. StockNews.com cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. National Bank Financial raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, March 21st. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, January 7th. Stifel Canada upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada increased their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $105.22.

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Agnico Eagle Mines Stock Down 7.1 %

NYSE AEM traded down $7.70 on Monday, reaching $100.79. The company had a trading volume of 4,486,522 shares, compared to its average volume of 2,364,183. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. Agnico Eagle Mines has a 1 year low of $60.15 and a 1 year high of $111.04. The firm has a 50-day moving average of $99.58 and a 200-day moving average of $88.55. The firm has a market capitalization of $50.70 billion, a PE ratio of 26.59, a P/E/G ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. On average, equities research analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. Agnico Eagle Mines's payout ratio is currently 42.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerity Partners LLC boosted its stake in Agnico Eagle Mines by 34.2% in the third quarter. Cerity Partners LLC now owns 31,503 shares of the mining company's stock valued at $2,538,000 after acquiring an additional 8,023 shares during the period. D.A. Davidson & CO. boosted its position in Agnico Eagle Mines by 7.3% during the 3rd quarter. D.A. Davidson & CO. now owns 12,236 shares of the mining company's stock valued at $986,000 after purchasing an additional 831 shares during the period. Fiduciary Trust Co bought a new position in Agnico Eagle Mines during the 3rd quarter worth $219,000. Captrust Financial Advisors increased its position in Agnico Eagle Mines by 7.0% in the third quarter. Captrust Financial Advisors now owns 5,316 shares of the mining company's stock worth $428,000 after buying an additional 349 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Agnico Eagle Mines in the third quarter valued at $333,000. 68.34% of the stock is owned by institutional investors and hedge funds.

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.