Agnico Eagle Mines (NYSE:AEM) Upgraded at Wall Street Zen

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Monday.

A number of other equities research analysts have also recently commented on the stock. Citigroup raised their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America raised their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research note on Sunday, December 7th. UBS Group increased their price target on Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, December 1st. Finally, CIBC boosted their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Five analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and an average price target of $211.70.

Agnico Eagle Mines Trading Down 1.4%

Shares of AEM stock opened at $197.61 on Monday. Agnico Eagle Mines has a fifty-two week low of $82.86 and a fifty-two week high of $201.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. The stock has a 50 day simple moving average of $174.19 and a two-hundred day simple moving average of $156.18. The company has a market cap of $98.94 billion, a P/E ratio of 28.85, a PEG ratio of 0.61 and a beta of 0.63.

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

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors have recently bought and sold shares of the stock. Vanguard Capital Wealth Advisors bought a new position in Agnico Eagle Mines during the 4th quarter valued at $357,000. Blue Trust Inc. raised its holdings in shares of Agnico Eagle Mines by 2.5% in the fourth quarter. Blue Trust Inc. now owns 3,540 shares of the mining company’s stock valued at $600,000 after purchasing an additional 86 shares during the last quarter. Bangor Savings Bank bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $37,000. TB Alternative Assets Ltd. boosted its holdings in Agnico Eagle Mines by 34.2% during the fourth quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock worth $38,929,000 after purchasing an additional 58,490 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new stake in Agnico Eagle Mines in the 4th quarter worth about $239,000. Institutional investors own 68.34% of the company’s stock.

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.