May 30, 2012 at 08:51 AM EDT
Agnico-Eagle Mines Downgraded to “Hold” at Dahlman Rose (AEM)

Gold producer Agnico-Eagle Mines Limited (AEM) on Wednesday caught a big downgrade from analysts at Dahlman Rose & Company.

The firm said it cut its rating on AEM from “Buy” to “Hold,” noting that “Despite 2011 complications, we believe the market has regained confidence in current operations and future growth prospects. We believe shares now to be fully-valued, and are therefore downgrading our rating.”

Agnico-Eagle Mines shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of Agnico-Eagle Mines (AEM) have a 2.07% dividend yield, based on last night’s closing stock price of $38.58 price area. The stock has technical support in the $32-$35 price area. If the shares can firm up, we see overhead resistance around the $40-$45 price levels.

Agnico-Eagle Mines Limited (AEM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here