Agnico Eagle Mines (NYSE:AEM) Rating Increased to Strong-Buy 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 research note released on Saturday.

AEM has been the subject of several other reports. UBS Group increased their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Citigroup raised their price objective on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Finally, TD Securities upped their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Trading Up 0.8%

Shares of AEM stock opened at $159.82 on Friday. The stock has a 50-day simple moving average of $164.52 and a 200 day simple moving average of $139.52. The stock has a market capitalization of $80.17 billion, a P/E ratio of 23.33, a P/E/G ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines has a fifty-two week low of $76.91 and a fifty-two week high of $187.50. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the business earned $1.14 earnings per share. On average, sell-side analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Several hedge funds and other institutional investors have recently modified their holdings of the business. Coldstream Capital Management Inc. grew its holdings in shares of Agnico Eagle Mines by 101.7% during the third quarter. Coldstream Capital Management Inc. now owns 5,173 shares of the mining company’s stock valued at $872,000 after buying an additional 2,608 shares in the last quarter. Danske Bank A S acquired a new stake in Agnico Eagle Mines during the 3rd quarter worth about $1,554,000. Advisory Services Network LLC grew its stake in Agnico Eagle Mines by 2.5% during the 3rd quarter. Advisory Services Network LLC now owns 20,711 shares of the mining company’s stock valued at $3,491,000 after acquiring an additional 514 shares in the last quarter. Hancock Whitney Corp purchased a new position in Agnico Eagle Mines during the 3rd quarter valued at about $217,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Agnico Eagle Mines by 32.9% in the 3rd quarter. NewEdge Advisors LLC now owns 22,466 shares of the mining company’s stock valued at $3,787,000 after purchasing an additional 5,563 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.