Erste Group Bank Downgrades Agnico Eagle Mines (TSE:AEM) to Hold

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) was downgraded by equities research analysts at Erste Group Bank from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

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

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at C$265.81 on Tuesday. Agnico Eagle Mines has a twelve month low of C$135.40 and a twelve month high of C$348.94. The company has a current ratio of 2.02, a quick ratio of 0.89 and a debt-to-equity ratio of 1.68. The stock has a fifty day simple moving average of C$291.90 and a two-hundred day simple moving average of C$254.12. The stock has a market capitalization of C$133.17 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 22.97 and a beta of 1.67.

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

Insider Activity at Agnico Eagle Mines

In related news, insider Guy Gosselin sold 4,947 shares of Agnico Eagle Mines stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the completion of the sale, the insider directly owned 31,381 shares in the company, valued at C$9,728,110. This trade represents a 13.62% decrease in their position. 0.08% of the stock is owned by insiders.

Agnico Eagle Mines Company Profile

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.