Agnico Eagle Mines (NYSE:AEM) Stock Rating Upgraded by Barclays

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by equities researchers at Barclays to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. UBS Group lowered their target price on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Scotiabank reissued an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Stock Down 1.1%

NYSE AEM opened at $175.79 on Thursday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $197.96 and a two-hundred day moving average of $193.72. The firm has a market capitalization of $87.98 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.88 and a beta of 0.58. Agnico Eagle Mines has a 52 week low of $114.60 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, analysts predict that Agnico Eagle Mines will post 13.14 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

Institutional investors and hedge funds have recently made changes to their positions in the company. Acumen Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $26,000. MCF Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter valued at about $34,000. Lodestone Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $35,000. Jessup Wealth Management Inc bought a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $35,000. Finally, Abound Wealth Management raised its holdings in shares of Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

More Agnico Eagle Mines News

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle announced a major restart and expansion of its Hope Bay project in Nunavut, committing US$2.4 billion to build an underground gold mine and processing facility. The move supports future production growth and reinforces the company’s long-term development pipeline. Agnico Eagle Mines (AEM) To Begin Redevelopment Of The Hope Bay Mine With $2.4 Billion Investment
• Positive Sentiment: The company also expanded its stake in Wallbridge Mining by investing C$22.4 million, lifting ownership to about 19.9%. That investment could help advance Wallbridge’s Fenelon gold project and gives Agnico more exposure to additional Quebec gold assets. Agnico Eagle Expands Wallbridge Stake Through C$22.4M Investment
• Neutral Sentiment: Recent coverage highlighted Agnico Eagle’s strong earnings quality, cash-rich balance sheet, and profitability, which may support investor confidence but did not appear to be a new market-moving catalyst on its own. Agnico Eagle Earnings Call Highlights Cash-Rich Growth
• Negative Sentiment: Investors are also focusing on valuation and execution risk after a recent selloff, with shares down over the past month and quarter. The big Hope Bay commitment raises future growth potential, but it also increases capital spending expectations and near-term pressure on returns. Agnico Eagle: A 15 Percent Selloff In A Best-In-Class Gold Miner

Agnico Eagle Mines Company Profile

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.