Agnico Eagle Mines Limited (AEM) : Analyst Rating Update

Agnico Eagle Mines Limited (AEM) : Zacks Investment Research ranks Agnico Eagle Mines Limited (AEM) as 3, which is a Hold recommendation. 6 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 7 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 2.07, which indicates as a Buy.

Agnico Eagle Mines Limited (AEM) : The highest short term price target forecast on Agnico Eagle Mines Limited (AEM) is $60 and the lowest target price is $33. A total of 12 equity analysts are currently covering the company. The average price of all the analysts is $46.45 with a standard deviation of $8.73.

Agnico Eagle Mines Limited (NYSE:AEM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $55.90 and $55.47 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $56.50. The buying momentum continued till the end and the stock did not give up its gains. It closed at $56.34, notching a gain of 1.84% for the day. The total traded volume was 2,450,570 . The stock had closed at $55.32 on the previous day.

Also, Equity Analysts at the Brokerage Firm, BMO Capital, downgrades their rating on the shares of Agnico Eagle Mines Limited (NYSE:AEM). BMO Capital has a Market Perform rating on the shares. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on May 12, 2016. The company shares have rallied 93.63% from its 1 Year high price. On Jul 5, 2016, the shares registered one year high at $55.94 and the one year low was seen on Aug 6, 2015. The 50-Day Moving Average price is $49.27 and the 200 Day Moving Average price is recorded at $38.80.

Agnico Eagle Mines Ltd is a Canada-based gold producer. The Company has mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, and exploration activities in Canada, Europe, Latin America and the United States. It operates through three business units: Northern Business, Southern Business and Exploration. Its Northern Business consists of the operations in Canada and Finland, which include the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine and the Meliadine project. Its Southern Business consists of the Companys operations in Mexico. The Companys mining at Pinos Altos is conducted through its subsidiary, Agnico Eagle Mexico S.A. de C.V., which owns the Pinos Altos mine, including the Creston Mascota deposit. Its Exploration group focuses on the identification of new mineral reserves and resources, and new developments in stable and proven gold producing regions.

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