NEW YORK (TheStreet) -- Agnico Eagle Mines
(AEM) stock is surging Friday after handily beating analysts' expectations in its first quarter.
By early afternoon, shares had spiked 8.4% to $32.07.
In its March-ending quarter, the company posted net income of 61 cents a share and revenue of $491.77 million. Analysts surveyed by Thomson Reuters had expected net income of 22 cents a share and revenue of $443.27 million.
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TheStreet Ratings team rates AGNICO EAGLE MINES LTD as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AGNICO EAGLE MINES LTD (AEM) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."
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