Wall Street Zen Upgrades Agnico Eagle Mines (NYSE:AEM) to “Strong-Buy”

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other analysts have also recently commented on the company. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research note on Sunday, December 7th. UBS Group reissued a “neutral” rating and set a $240.00 price objective on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Scotiabank reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Erste Group Bank upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, March 5th. Finally, Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $234.91.

Get Our Latest Stock Analysis on AEM

Agnico Eagle Mines Stock Down 3.1%

NYSE:AEM opened at $179.12 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 12-month low of $94.77 and a 12-month high of $255.24. The stock’s fifty day simple moving average is $213.77 and its 200-day simple moving average is $182.89. The firm has a market capitalization of $89.74 billion, a P/E ratio of 20.17 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The firm’s revenue was up 60.3% on a year-over-year basis. Equities research analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC grew its position in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares in the last quarter. AQR Capital Management LLC lifted its position in Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after buying an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after buying an additional 1,160 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Agnico Eagle Mines by 8.0% in the 2nd quarter. Cetera Investment Advisers now owns 41,875 shares of the mining company’s stock valued at $4,980,000 after acquiring an additional 3,094 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Agnico Eagle Mines by 7.1% in the 2nd quarter. Swiss National Bank now owns 1,529,258 shares of the mining company’s stock valued at $181,497,000 after acquiring an additional 102,000 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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About Agnico Eagle Mines

(Get Free Report)

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.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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