Agnico Eagle Mines (NYSE:AEM) Upgraded to Strong-Buy at Wall Street Zen

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Several other research firms have also weighed in on AEM. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. TD Securities lifted their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Citigroup boosted their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Erste Group Bank upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $234.91.

Get Our Latest Analysis on Agnico Eagle Mines

Agnico Eagle Mines Trading Down 3.1%

NYSE AEM opened at $179.12 on Friday. The company has a market cap of $89.74 billion, a PE ratio of 20.17 and a beta of 0.61. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 12 month low of $94.77 and a 12 month high of $255.24. The stock has a 50 day moving average of $213.77 and a 200-day moving average of $182.89.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last issued its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. On average, equities research analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds have recently bought and sold shares of the business. True Wealth Design LLC boosted its holdings in Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. Acumen Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the second quarter worth approximately $29,000. Blue Bell Private Wealth Management LLC raised its position in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter valued at approximately $34,000. 68.34% of the stock is owned by institutional investors.

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Agnico Eagle Mines Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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