Agnico Eagle Mines Ltd (USA) (AEM) is Initiated by Citigroup to Sell, Price Target at $44

Agnico Eagle Mines Ltd (USA) (AEM) was Initiated by Citigroup to “Sell” and the brokerage firm has set the Price Target at $44. Citigroup advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on Agnico Eagle Mines Ltd (USA). Agnico Eagle Mines Ltd (USA) was Downgraded by Dundee to ” Neutral” on Jul 14, 2016. Agnico Eagle Mines Ltd (USA) was Upgraded by Desjardins to ” Buy” on Jul 13, 2016. Company shares were Reiterated by RBC Capital Mkts on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .

On the company’s financial health, Agnico Eagle Mines Ltd (USA) reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.10. The company had revenue of $537.60 million for the quarter, compared to analysts expectations of $516.48 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

Agnico Eagle Mines Ltd (USA) opened for trading at $57.63 and hit $58.53 on the upside on Friday, eventually ending the session at $58.14, with a gain of 2.83% or 1.6 points. The heightened volatility saw the trading volume jump to 21,53,484 shares. Company has a market cap of $12,819 M.

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 Company’s operations in Mexico. The Company’s 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.

Agnico Eagle Mines Ltd (USA)

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Agnico Eagle Mines Ltd (USA) - Is it time to Sell?

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