Agnico Eagle Mines (NYSE:AEM) Stock Rating Lowered by Wall Street Zen

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Other analysts also recently issued reports about the stock. UBS Group upped their price objective on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Bank of America increased their price target on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday, October 23rd. Finally, Raymond James Financial boosted their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Up 0.5%

Shares of AEM stock opened at $173.89 on Friday. The stock’s 50-day simple moving average is $166.06 and its 200-day simple moving average is $141.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The firm has a market capitalization of $87.23 billion, a PE ratio of 25.39, 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.

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

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC raised its holdings in Agnico Eagle Mines by 21.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,222 shares of the mining company’s stock worth $711,000 after purchasing an additional 743 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Agnico Eagle Mines by 101.7% in 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 position in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $1,554,000. Advisory Services Network LLC grew its stake in Agnico Eagle Mines by 2.5% in 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 during the period. Finally, Hancock Whitney Corp acquired a new stake in Agnico Eagle Mines in the 3rd quarter valued at $217,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.