Global Hunter Securities Downgrades Agnico-Eagle Mines Ltd. (AEM) to Neutral; Valuation Call
Tweet
Share
E-mailGet Alerts AEM Hot Sheet
Price: $186.46 +3.38%
Rating Summary:
13 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Global Hunter Securities downgraded Agnico-Eagle Mines Ltd. (NYSE: AEM) from Buy to Neutral with a price target of $46.00.
Analyst, Jeff Wright, said, "We are lowering our rating on Agnico-Eagle Mines (AEM) to Neutral, mainly due to price appreciation as it surpassed our $46 price target, which we are maintaining. We remain confident in AEM's ability to continue to outpace its peer group. However, at this stage we do not see significant upside potential to the current share price."
"Although we are lowering our rating, we still believe AEM can outperform its peer group operationally. We believe the company has set reachable goals and managed to avoid the risks that have impacted many other major gold producers recently. We believe AEM can continue to meet and exceed its goals and we will continue to watch closely for improvements in operations as well as changes to overall reserves; an improvement in either could lead us to reevaluate our rating."
For an analyst ratings summary and ratings history on Agnico-Eagle Mines Ltd. click here. For more ratings news on Agnico-Eagle Mines Ltd. click here.
Shares of Agnico-Eagle Mines Ltd. closed at $46.62 yesterday.
Analyst, Jeff Wright, said, "We are lowering our rating on Agnico-Eagle Mines (AEM) to Neutral, mainly due to price appreciation as it surpassed our $46 price target, which we are maintaining. We remain confident in AEM's ability to continue to outpace its peer group. However, at this stage we do not see significant upside potential to the current share price."
"Although we are lowering our rating, we still believe AEM can outperform its peer group operationally. We believe the company has set reachable goals and managed to avoid the risks that have impacted many other major gold producers recently. We believe AEM can continue to meet and exceed its goals and we will continue to watch closely for improvements in operations as well as changes to overall reserves; an improvement in either could lead us to reevaluate our rating."
For an analyst ratings summary and ratings history on Agnico-Eagle Mines Ltd. click here. For more ratings news on Agnico-Eagle Mines Ltd. click here.
Shares of Agnico-Eagle Mines Ltd. closed at $46.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Drilling Begins at One of the Largest Undeveloped Palladium-Gold-Platinum Deposits
- HSBC Downgrades Cisco (CSCO) to Hold
- DA Davidson Downgrades Blaize Inc. (BZAI) to Neutral
Create E-mail Alert Related Categories
DowngradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
