Agnico Eagle Mines (NYSE:AEM) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on AEM. Bank of America increased their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Raymond James Financial raised shares of Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price target for the company in a research note on Monday, June 30th. Lake Street Capital reissued a “buy” rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. National Bankshares reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Finally, CIBC reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $136.90.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $148.44 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $129.16 and a 200-day moving average of $117.36. The firm has a market cap of $74.64 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.02 and a beta of 0.45. Agnico Eagle Mines has a 1-year low of $75.17 and a 1-year high of $149.94.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. Agnico Eagle Mines’s revenue was up 35.6% on a year-over-year basis. Sell-side analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new stake in shares of Agnico Eagle Mines during the second quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Agnico Eagle Mines during the first quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Agnico Eagle Mines during the first quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the second quarter valued at approximately $29,000. Finally, City State Bank increased its position in shares of Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.