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

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

AEM has been the topic of a number of other reports. Raymond James Financial upped their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a research report on Sunday, December 7th. Citigroup raised their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $185.00 to $205.00 in a research note on Wednesday, December 10th. Finally, UBS Group increased their price target on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, December 1st. Six investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $201.60.

Agnico Eagle Mines Stock Up 2.4%

Shares of NYSE:AEM opened at $190.90 on Friday. The firm has a fifty day moving average price of $170.41 and a two-hundred day moving average price of $153.17. The company has a market cap of $95.78 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 0.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. Agnico Eagle Mines has a one year low of $81.45 and a one year high of $191.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share 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 15.64%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ninety One UK Ltd boosted its holdings in shares of Agnico Eagle Mines by 386.5% during the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after purchasing an additional 149,506 shares during the period. Addenda Capital Inc. raised its position in Agnico Eagle Mines by 2.3% during the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after purchasing an additional 15,965 shares during the last quarter. Schroder Investment Management Group raised its position in Agnico Eagle Mines by 12.7% during the 2nd quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock valued at $52,101,000 after purchasing an additional 49,480 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Agnico Eagle Mines by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,178,532 shares of the mining company’s stock worth $140,135,000 after buying an additional 31,087 shares during the period. Finally, Liontrust Investment Partners LLP grew its position in shares of Agnico Eagle Mines by 146.8% in the 2nd quarter. Liontrust Investment Partners LLP now owns 151,451 shares of the mining company’s stock worth $18,012,000 after buying an additional 90,076 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.