Zacks Research Upgrades Agnico Eagle Mines (NYSE:AEM) to “Strong-Buy”

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “buy (a-)” rating on shares of Agnico Eagle Mines in a report on Tuesday. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday, October 23rd. Raymond James Financial boosted their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Citigroup increased their price target 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. Finally, Bank of America upped their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Six 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 stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $185.50.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $168.82 on Thursday. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a fifty-two week low of $76.91 and a fifty-two week high of $187.50. The business has a fifty day moving average of $166.98 and a 200-day moving average of $143.52. The stock has a market cap of $84.69 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 0.62 and a beta of 0.64.

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, beating 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 for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company earned $1.14 earnings per share. As a group, analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. raised its holdings in shares of Agnico Eagle Mines by 87.5% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock worth $18,196,000 after buying an additional 71,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Agnico Eagle Mines by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,178,532 shares of the mining company’s stock valued at $140,135,000 after acquiring an additional 31,087 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Agnico Eagle Mines during the second quarter worth about $202,000. Schroder Investment Management Group raised its stake in Agnico Eagle Mines by 12.7% during the second quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock worth $52,101,000 after acquiring an additional 49,480 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth about $232,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

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.