Agnico Eagle Mines (NYSE:AEM) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a hold rating to a buy rating in a research report released on Thursday morning.

Several other brokerages also recently commented on AEM. Scotiabank boosted their target price on Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a sector outperform rating in a report on Thursday, May 23rd. TD Securities boosted their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $58.00 to $59.00 and gave the stock a hold rating in a report on Thursday, June 20th. BMO Capital Markets reduced their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating on the stock in a report on Thursday, June 20th. Finally, CIBC boosted their target price on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of Moderate Buy and a consensus target price of $72.22.

Agnico Eagle Mines Stock Down 1.5 %

NYSE AEM opened at $65.40 on Thursday. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average is $66.31 and its two-hundred day moving average is $58.04. The company has a market capitalization of $32.72 billion, a price-to-earnings ratio of 68.84, a PEG ratio of 0.72 and a beta of 1.11. Agnico Eagle Mines has a 1-year low of $43.22 and a 1-year high of $71.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. Equities analysts forecast that Agnico Eagle Mines will post 3.16 earnings per share for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Several institutional investors and hedge funds have recently made changes to their positions in AEM. Van ECK Associates Corp increased its position in shares of Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after buying an additional 1,995,127 shares in the last quarter. FIL Ltd increased its position in shares of Agnico Eagle Mines by 16.4% in the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after buying an additional 2,831,794 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Agnico Eagle Mines by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock valued at $963,320,000 after buying an additional 338,264 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Agnico Eagle Mines by 0.4% in the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after buying an additional 41,068 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Agnico Eagle Mines by 0.8% in the 1st quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock valued at $582,529,000 after buying an additional 79,275 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.