Agnico Eagle Mines (NYSE:AEM) Lowered to “Buy” Rating by Wall Street Zen

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

Other research analysts have also issued reports about the company. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a research report on Sunday, December 7th. TD Securities raised their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. UBS Group reaffirmed a “neutral” rating and issued a $240.00 price objective on shares of Agnico Eagle Mines in a research note on Friday. CIBC increased their target price on shares of 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, JPMorgan Chase & Co. assumed coverage on Agnico Eagle Mines in a research report on Thursday. They issued a “neutral” rating and a $248.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Buy” and an average price target of $224.73.

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Agnico Eagle Mines Price Performance

NYSE AEM opened at $190.46 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The firm has a market capitalization of $95.36 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 0.59 and a beta of 0.63. The company has a 50 day simple moving average of $182.93 and a 200-day simple moving average of $161.97. Agnico Eagle Mines has a 52-week low of $92.11 and a 52-week high of $225.00.

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

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors have recently made changes to their positions in AEM. Sigma Planning Corp lifted its position in shares of Agnico Eagle Mines by 163.3% during the 4th quarter. Sigma Planning Corp now owns 15,882 shares of the mining company’s stock worth $2,814,000 after purchasing an additional 9,849 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the 4th quarter worth approximately $44,000. Delta Investment Management LLC lifted its holdings in shares of Agnico Eagle Mines by 864.3% during the fourth quarter. Delta Investment Management LLC now owns 15,824 shares of the mining company’s stock worth $2,683,000 after buying an additional 14,183 shares during the last quarter. New Harbor Financial Group LLC boosted its position in shares of Agnico Eagle Mines by 10.9% in the fourth quarter. New Harbor Financial Group LLC now owns 2,080 shares of the mining company’s stock valued at $353,000 after acquiring an additional 205 shares during the period. Finally, Caldwell Trust Co acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $63,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines News Roundup

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Agnico Eagle Mines Company Profile

(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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