Agnico Eagle Mines (NYSE:AEM) Rating Lowered to Hold at Erste Group Bank

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by investment analysts at Erste Group Bank from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat.com reports.

A number of other equities analysts also recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research note on Sunday, December 7th. Finally, Citigroup raised their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Up 4.7%

NYSE:AEM opened at $192.06 on Tuesday. The company’s 50-day simple moving average is $213.14 and its 200-day simple moving average is $183.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. Agnico Eagle Mines has a fifty-two week low of $94.77 and a fifty-two week high of $255.24. The stock has a market capitalization of $96.23 billion, a P/E ratio of 21.63 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the business posted $1.26 EPS. Agnico Eagle Mines’s revenue was up 60.3% on a year-over-year basis. On average, equities analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Agnico Eagle Mines during the 4th quarter worth about $1,367,783,000. Capital World Investors grew its stake in Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after purchasing an additional 3,062,705 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after purchasing an additional 2,319,131 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Agnico Eagle Mines by 48.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after purchasing an additional 1,474,385 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.