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Actionable news in AEM: AGNICO EAGLE MINES Ltd.,

Agnico Eagle Mines (AEM) Stock Closed Lower, Gold Prices Decline

NEW YORK (TheStreet) -- Shares of Agnico Eagle Mines (AEM) closed down 1.95% to $45.75 Thursday as gold prices fell today.

Gold is down 0.56% to $1,268.40 per ounce late Thursday afternoon. The metal had reached a 15-month high last week at $1,303.60 per ounce, CNBC reports.

Prices of gold declined today as a strengthening dollar prompted some buyers to cash in gains, CNBC says.

In addition, BMO Capital Markets downgraded Agnico Eagle Mines stock to "market perform" rating from "outperform," maintaining its $47.50 price target.

"In our view, a move towards increased leverage to rising precious metal prices and execution risk is...