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

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the stock. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. TD raised their price target on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. UBS Group cut their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Barclays began coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 price target for the company. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $162.70 on Friday. The firm’s 50-day moving average is $190.08 and its 200-day moving average is $194.36. Agnico Eagle Mines has a 52-week low of $114.60 and a 52-week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The company has a market cap of $81.43 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 3.46 and a beta of 0.56.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the company posted $1.53 EPS. The business’s revenue was up 66.1% on a year-over-year basis. Equities research analysts anticipate that Agnico Eagle Mines will post 13.2 earnings per share for the current year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds have recently bought and sold shares of AEM. Brighton Jones LLC raised its holdings in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after purchasing an additional 331 shares during the period. AQR Capital Management LLC raised its holdings in Agnico Eagle Mines by 36.4% in the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after purchasing an additional 5,293 shares during the period. Sivia Capital Partners LLC raised its holdings in Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after purchasing an additional 1,160 shares during the period. Rhumbline Advisers raised its holdings in Agnico Eagle Mines by 8.0% in the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after purchasing an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock worth $110,000 after purchasing an additional 187 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.