Agnico Eagle Mines (NYSE:AEM) Upgraded at Barclays

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

Several other analysts have also weighed in on AEM. TD Securities lifted their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Scotiabank reissued an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Finally, Erste Group Bank lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.08.

Agnico Eagle Mines Stock Performance

AEM opened at $175.79 on Thursday. The firm has a market capitalization of $87.98 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 3.88 and a beta of 0.58. The stock’s 50 day moving average price is $197.96 and its two-hundred day moving average price is $193.72. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 12-month low of $114.60 and a 12-month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the firm earned $1.53 EPS. Agnico Eagle Mines’s revenue for the quarter was up 66.1% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines will post 13.14 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

Several institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC raised its position in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares during the last quarter. AQR Capital Management LLC raised its position in Agnico Eagle Mines by 36.4% in the 1st 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. Sivia Capital Partners LLC raised its position in Agnico Eagle Mines by 57.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after purchasing an additional 1,160 shares during the last quarter. Rhumbline Advisers raised its position in Agnico Eagle Mines by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after purchasing an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Agnico Eagle Mines by 25.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Key Stories Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle announced a major restart and expansion of its Hope Bay project in Nunavut, committing US$2.4 billion to build an underground gold mine and processing facility. The move supports future production growth and reinforces the company’s long-term development pipeline. Agnico Eagle Mines (AEM) To Begin Redevelopment Of The Hope Bay Mine With $2.4 Billion Investment
• Positive Sentiment: The company also expanded its stake in Wallbridge Mining by investing C$22.4 million, lifting ownership to about 19.9%. That investment could help advance Wallbridge’s Fenelon gold project and gives Agnico more exposure to additional Quebec gold assets. Agnico Eagle Expands Wallbridge Stake Through C$22.4M Investment
• Neutral Sentiment: Recent coverage highlighted Agnico Eagle’s strong earnings quality, cash-rich balance sheet, and profitability, which may support investor confidence but did not appear to be a new market-moving catalyst on its own. Agnico Eagle Earnings Call Highlights Cash-Rich Growth
• Negative Sentiment: Investors are also focusing on valuation and execution risk after a recent selloff, with shares down over the past month and quarter. The big Hope Bay commitment raises future growth potential, but it also increases capital spending expectations and near-term pressure on returns. Agnico Eagle: A 15 Percent Selloff In A Best-In-Class Gold Miner

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.