Wall Street Zen Upgrades Agnico Eagle Mines (NYSE:AEM) to Strong-Buy

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other research firms have also commented on AEM. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research note on Friday, October 24th. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Citigroup boosted their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. CIBC boosted their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, UBS Group boosted their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Trading Down 1.1%

NYSE AEM opened at $160.80 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm has a market cap of $80.79 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 0.70 and a beta of 0.46. The company has a 50 day moving average price of $159.41 and a 200 day moving average price of $134.81. Agnico Eagle Mines has a 52 week low of $75.17 and a 52 week high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.76 by $0.40. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, sell-side analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Several large investors have recently made changes to their positions in AEM. True Wealth Design LLC boosted its holdings in Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Agnico Eagle Mines during the second quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines during the first quarter worth $26,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Agnico Eagle Mines during the first quarter worth $26,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

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.