Agnico-Eagle (NYSE:AEM) Downgraded by Credit Suisse (NYSE:CS)

Agnico-Eagle Mines Ltd. (NYSE:AEM) was downgraded by Credit Suisse (NYSE:CS), dropping them from "Outperform" to "Neutral."

Over the last year Agnico has burned through a lot of cash, raising concerns among a number of investors. They spent over $124 million over the last 12 months.

Agnico is trading today at $77.69, falling $0.49,or 0.63 percent at 12:15 PM EST.

Credit Suisse has a price target of $86 on the gold miner.