Agnico Eagle Mines (NYSE:AEM) Rating Increased to Strong-Buy at StockNews.com

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Scotiabank raised their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $92.75.

Agnico Eagle Mines Stock Down 5.0 %

NYSE AEM traded down $5.06 during trading on Monday, reaching $95.75. 4,623,011 shares of the company’s stock traded hands, compared to its average volume of 1,902,290. Agnico Eagle Mines has a 12-month low of $45.75 and a 12-month high of $101.45. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The firm has a market cap of $48.09 billion, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The company’s 50 day simple moving average is $86.73 and its two-hundred day simple moving average is $83.40.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 8.88% and a net margin of 12.86%. As a group, sell-side analysts forecast that Agnico Eagle Mines will post 4.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds have recently made changes to their positions in AEM. Creative Planning raised its position in Agnico Eagle Mines by 28.7% during the 3rd quarter. Creative Planning now owns 37,876 shares of the mining company’s stock worth $3,051,000 after buying an additional 8,456 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Agnico Eagle Mines by 124.2% during the third quarter. Blue Trust Inc. now owns 3,663 shares of the mining company’s stock worth $295,000 after purchasing an additional 2,029 shares during the last quarter. Veracity Capital LLC acquired a new position in Agnico Eagle Mines during the third quarter valued at $231,000. OLD National Bancorp IN purchased a new stake in Agnico Eagle Mines in the third quarter valued at $232,000. Finally, McClarren Financial Advisors Inc. grew its position in Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after purchasing an additional 445 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.