Agnico Eagle Mines (NYSE:AEM) Upgraded to “Hold” at Zacks Research

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

AEM has been the topic of a number of other reports. Scotiabank dropped their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Scotia decreased their price objective on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Raymond James Financial decreased their price objective on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 4th. Barclays lowered their target price on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada cut their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Stock Down 1.5%

AEM stock opened at $201.74 on Monday. The company’s 50 day moving average price is $171.68 and its 200 day moving average price is $186.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. Agnico Eagle Mines has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The firm has a market capitalization of $102.26 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.55 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the company earned $1.94 earnings per share. The firm’s revenue was up 35.0% compared to the same quarter last year. On average, equities research analysts anticipate that Agnico Eagle Mines will post 11.56 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BIP Wealth LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth about $1,167,000. Annex Advisory Services LLC increased its position in Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock valued at $4,500,000 after acquiring an additional 11,995 shares during the period. K.J. Harrison & Partners Inc acquired a new position in Agnico Eagle Mines in the 2nd quarter valued at about $6,923,000. PensionDanmark Pensionsforsikringsaktieselskab raised its stake in Agnico Eagle Mines by 12.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company’s stock valued at $16,046,000 after acquiring an additional 11,100 shares during the last quarter. Finally, Harvest Portfolios Group Inc. raised its stake in Agnico Eagle Mines by 45.7% during the 4th quarter. Harvest Portfolios Group Inc. now owns 137,292 shares of the mining company’s stock valued at $23,282,000 after acquiring an additional 43,051 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited is a Canadian-based gold mining company engaged in the exploration, development and production of gold and other mineral resources. The company’s primary product is gold, with silver and other byproducts also recovered from certain operations. Its activities include operating mines, advancing development projects and conducting exploration to expand and replace mineral reserves.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s major gold producers.