Agnico Eagle Mines (TSE:AEM) Raised to Strong-Buy at Erste Group Bank

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) was upgraded by stock analysts at Erste Group Bank from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Royal Bank Of Canada cut Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. set a C$337.00 price objective on Agnico Eagle Mines and gave the company a “neutral” rating in a report on Thursday, January 29th. National Bank Financial upped their price target on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Stifel Nicolaus raised their target price on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Finally, TD Securities lifted their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$314.50.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at C$300.11 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.89 and a current ratio of 2.02. The firm has a market capitalization of C$150.15 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 22.97 and a beta of 1.67. Agnico Eagle Mines has a one year low of C$135.40 and a one year high of C$348.94. The company has a 50 day moving average price of C$284.75 and a 200 day moving average price of C$246.24.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. The company had revenue of C$4.89 billion for the quarter. Sell-side analysts anticipate that Agnico Eagle Mines will post 5.4966052 EPS for the current year.

Insider Buying and Selling

In related news, insider Guy Gosselin sold 4,947 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the sale, the insider owned 31,381 shares of the company’s stock, valued at C$9,728,110. The trade was a 13.62% decrease in their ownership of the stock. Also, insider James Porter sold 3,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the completion of the sale, the insider directly owned 7,734 shares of the company’s stock, valued at C$1,913,546.28. The trade was a 27.95% decrease in their ownership of the stock. Insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.