Agnico Eagle Mines (NYSE:AEM) Cut to “Buy” at Wall Street Zen

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Other research analysts have also recently issued reports about the stock. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. UBS Group lifted their target price on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, December 1st. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. CIBC boosted their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, TD Securities boosted their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $201.60.

Agnico Eagle Mines Stock Up 2.4%

Agnico Eagle Mines stock opened at $190.90 on Friday. Agnico Eagle Mines has a 1-year low of $81.45 and a 1-year high of $191.88. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $170.41 and a 200 day simple moving average of $153.17. The company has a market cap of $95.78 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 0.59 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Research analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

A number of institutional investors have recently modified their holdings of AEM. Ameritas Advisory Services LLC bought a new stake in Agnico Eagle Mines during the 2nd quarter valued at $25,000. True Wealth Design LLC grew its position in shares of Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at $29,000. City State Bank lifted its holdings in Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its holdings in Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.