Agnico Eagle Mines (NYSE:AEM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a buy rating to a strong-buy rating in a report issued on Monday.

Several other research analysts also recently weighed in on the stock. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. TD Securities raised their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. Finally, Bank of America lifted their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Five investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $211.70.

Agnico Eagle Mines Trading Down 1.8%

Shares of NYSE AEM opened at $205.34 on Monday. The firm’s 50 day moving average price is $176.24 and its 200-day moving average price is $157.69. Agnico Eagle Mines has a 52-week low of $87.07 and a 52-week high of $213.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. The company has a market cap of $102.81 billion, a PE ratio of 29.98, a P/E/G ratio of 0.61 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. On average, equities research analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds have recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after acquiring an additional 331 shares in the last quarter. AQR Capital Management LLC lifted its position in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after purchasing an additional 5,293 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Agnico Eagle Mines by 100.3% in the 1st quarter. Voya Investment Management LLC now owns 17,008 shares of the mining company’s stock worth $1,842,000 after buying an additional 8,515 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Agnico Eagle Mines by 8.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,871 shares of the mining company’s stock worth $223,000 after buying an additional 142 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after buying an additional 1,160 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

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.