Agnico Eagle Mines (AEM) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Agnico Eagle Mines (NYSE: AEM):

  • 4/29/2022 – Agnico Eagle Mines was given a new $76.00 price target on by analysts at Raymond James. They now have an “outperform” rating on the stock.
  • 4/27/2022 – Agnico Eagle Mines was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $59.00 price target on the stock. According to Zacks, “Earnings estimates for Agnico Eagle for the first quarter have been going down over the past month. The company has raised its exploration budget and is reinvesting in assets to expand the output. The Kittila expansion is likely to enhance mine efficiency and lower current operating costs. Further, it is expected to gain from the Hope Bay acquisition and the Hammond Reef project. It also has access to Meliadine and Canadian Malartic, major contributors to its quarterly production. Merger with Kirkland Lake Gold will also create significant opportunities. However, it faces headwinds like higher costs and increased capital spending. A significant rebound in gold demand is unlikely over the short term, given continued uncertainties surrounding the pandemic and its impacts on consumer behavior. High debt level is another concern.”
  • 4/21/2022 – Agnico Eagle Mines had its price target raised by analysts at Barclays PLC from $66.00 to $71.00. They now have an “overweight” rating on the stock.
  • 4/20/2022 – Agnico Eagle Mines had its price target raised by analysts at National Bank Financial from C$94.00 to C$99.00.
  • 4/20/2022 – Agnico Eagle Mines had its price target raised by analysts at Raymond James from C$65.00 to C$76.00.
  • 3/31/2022 – Agnico Eagle Mines is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/23/2022 – Agnico Eagle Mines was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating.
  • 3/22/2022 – Agnico Eagle Mines had its price target lowered by analysts at Raymond James from $66.00 to $65.00. They now have an “outperform” rating on the stock.

AEM stock traded down $0.57 during trading on Tuesday, hitting $53.48. The company had a trading volume of 488,743 shares, compared to its average volume of 3,399,205. The company has a quick ratio of 1.46, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $60.62 and a 200-day moving average price of $54.89. Agnico Eagle Mines Limited has a 12 month low of $45.42 and a 12 month high of $74.50. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 27.22 and a beta of 0.85.

Agnico Eagle Mines (NYSE:AEMGet Rating) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 28th. The mining company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.22. Agnico Eagle Mines had a net margin of 12.22% and a return on equity of 7.76%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company posted $0.67 EPS. Agnico Eagle Mines’s revenue was up 39.6% on a year-over-year basis. Equities analysts expect that Agnico Eagle Mines Limited will post 2.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Tuesday, May 31st. Agnico Eagle Mines’s payout ratio is 82.90%.

Several institutional investors have recently modified their holdings of AEM. Morgan Stanley raised its position in shares of Agnico Eagle Mines by 45.8% during the 2nd quarter. Morgan Stanley now owns 1,472,959 shares of the mining company’s stock valued at $89,040,000 after acquiring an additional 462,968 shares during the last quarter. qPULA Trading Management LP acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at $274,000. Murphy Pohlad Asset Management LLC grew its holdings in shares of Agnico Eagle Mines by 18.7% in the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 17,930 shares of the mining company’s stock valued at $929,000 after buying an additional 2,820 shares during the period. Bourgeon Capital Management LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at $143,000. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Agnico Eagle Mines by 14.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 44,176 shares of the mining company’s stock valued at $2,291,000 after buying an additional 5,443 shares during the period. Institutional investors own 69.74% of the company’s stock.

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.

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