Agnico Eagle Mines Ltd (AEM) Receives Consensus Recommendation of “Buy” from Brokerages

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Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) has received a consensus recommendation of “Buy” from the seventeen research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $51.11.

Several brokerages recently issued reports on AEM. Scotiabank set a $56.00 price objective on Agnico Eagle Mines and gave the stock a “buy” rating in a research note on Tuesday, October 30th. BMO Capital Markets set a $45.00 price target on Agnico Eagle Mines and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Canaccord Genuity reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, October 22nd. Barclays assumed coverage on Agnico Eagle Mines in a research report on Wednesday, October 10th. They set an “overweight” rating and a $39.00 price target on the stock. Finally, Zacks Investment Research downgraded Agnico Eagle Mines from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th.

AEM stock traded down $1.28 during mid-day trading on Monday, reaching $34.24. The company had a trading volume of 2,306,580 shares, compared to its average volume of 1,971,128. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.94 and a quick ratio of 1.88. The company has a market capitalization of $8.37 billion, a P/E ratio of 30.85 and a beta of -0.59. Agnico Eagle Mines has a 12 month low of $32.18 and a 12 month high of $49.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 24th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.06. Agnico Eagle Mines had a return on equity of 1.75% and a net margin of 4.60%. The company had revenue of $518.68 million for the quarter, compared to analysts’ expectations of $497.68 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Agnico Eagle Mines’s revenue was down 10.6% compared to the same quarter last year. On average, research analysts expect that Agnico Eagle Mines will post 0.15 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its stake in Agnico Eagle Mines by 54.5% during the 2nd quarter. US Bancorp DE now owns 3,750 shares of the mining company’s stock valued at $171,000 after acquiring an additional 1,323 shares during the period. BlackRock Inc. lifted its position in Agnico Eagle Mines by 1.1% during the first quarter. BlackRock Inc. now owns 146,755 shares of the mining company’s stock valued at $6,174,000 after purchasing an additional 1,629 shares during the period. Pendal Group Ltd lifted its holdings in shares of Agnico Eagle Mines by 97.1% in the 2nd quarter. Pendal Group Ltd now owns 3,939 shares of the mining company’s stock valued at $181,000 after buying an additional 1,941 shares during the period. Rathbone Brothers plc lifted its holdings in shares of Agnico Eagle Mines by 3.2% in the 3rd quarter. Rathbone Brothers plc now owns 63,620 shares of the mining company’s stock valued at $2,172,000 after buying an additional 2,000 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Agnico Eagle Mines by 1.0% in the 1st quarter. Northern Trust Corp now owns 204,793 shares of the mining company’s stock valued at $8,616,000 after buying an additional 2,041 shares during the period. 59.68% of the stock is currently owned by institutional investors and hedge funds.

About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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