Agnico Eagle Mines Ltd (AEM) Trading 4.1% Higher After Analyst Upgrade

Agnico Eagle Mines Ltd (TSE:AEM) (NYSE:AEM) shares shot up 4.1% during mid-day trading on Thursday after Canaccord Genuity raised their price target on the stock from C$77.00 to C$78.00. Canaccord Genuity currently has a buy rating on the stock. Agnico Eagle Mines traded as high as C$60.65 and last traded at C$58.50. 1,009,115 shares traded hands during trading, an increase of 59% from the average session volume of 636,084 shares. The stock had previously closed at C$56.20.

Other analysts also recently issued reports about the stock. National Bank Financial upgraded shares of Agnico Eagle Mines from a “sector perform” rating to an “outperform” rating in a research report on Sunday, July 23rd. TD Securities increased their price target on shares of Agnico Eagle Mines to C$65.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Agnico Eagle Mines in a research report on Monday, September 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Agnico Eagle Mines currently has a consensus rating of “Buy” and an average target price of C$66.75.



In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of C$58.00, for a total transaction of C$58,000.00. Also, Director Deborah Mccombe bought 500 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were bought at an average price of C$58.24 per share, for a total transaction of C$29,120.00.

The company has a 50 day moving average of $57.81 and a 200 day moving average of $60.42. The company has a market cap of $13.49 billion and a PE ratio of 53.61.

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Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

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