KeyCorp Initiates Coverage on Agnico Eagle Mines (NYSE:AEM)

Equities researchers at KeyCorp started coverage on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a report issued on Friday, Price Targets.com reports. The brokerage set a “sector weight” rating on the mining company’s stock.

A number of other equities research analysts have also commented on the stock. Raymond James increased their price objective on shares of Agnico Eagle Mines from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, August 17th. National Bank Financial lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $97.00 to $90.00 in a report on Friday, September 10th. National Bankshares lowered shares of Agnico Eagle Mines to a “hold” rating and set a $97.00 price objective on the stock. in a report on Friday, September 10th. CIBC reissued a “buy” rating and set a $121.50 price objective on shares of Agnico Eagle Mines in a report on Friday, July 9th. Finally, Zacks Investment Research raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, July 6th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and an average price target of $93.61.

NYSE:AEM opened at $50.51 on Friday. The company has a market cap of $12.34 billion, a P/E ratio of 16.40, a P/E/G ratio of 19.68 and a beta of 0.72. Agnico Eagle Mines has a fifty-two week low of $50.50 and a fifty-two week high of $85.46. The firm’s 50 day moving average is $58.10 and its two-hundred day moving average is $62.41. The company has a quick ratio of 0.80, a current ratio of 1.81 and a debt-to-equity ratio of 0.26.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Tuesday, July 27th. The mining company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. Agnico Eagle Mines had a net margin of 19.78% and a return on equity of 12.01%. The company had revenue of $966.32 million during the quarter, compared to analysts’ expectations of $901.42 million. During the same quarter in the prior year, the company posted $0.18 EPS. Research analysts forecast that Agnico Eagle Mines will post 2.8 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Eaton Vance Management bought a new position in shares of Agnico Eagle Mines in the first quarter valued at $46,000. Huntington National Bank grew its stake in shares of Agnico Eagle Mines by 24.0% in the second quarter. Huntington National Bank now owns 1,066 shares of the mining company’s stock valued at $64,000 after buying an additional 206 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Agnico Eagle Mines in the second quarter valued at $87,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Agnico Eagle Mines during the second quarter worth $137,000. Finally, Bessemer Group Inc. bought a new position in Agnico Eagle Mines during the first quarter worth $142,000. 59.30% of the stock is owned by institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Sweden, 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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