Agnico Eagle Mines (NYSE:AEM) Rating Lowered to “Neutral” at UBS Group

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday,Finviz reports. They currently have a $110.00 price objective on the mining company’s stock, up from their prior price objective of $100.00. UBS Group’s price objective indicates a potential upside of 2.48% from the stock’s previous close.

AEM has been the topic of several other reports. Scotiabank upped their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and a consensus target price of $97.44.

Agnico Eagle Mines Stock Down 0.5 %

Shares of Agnico Eagle Mines stock opened at $107.34 on Monday. Agnico Eagle Mines has a 1-year low of $60.15 and a 1-year high of $110.36. The company has a market capitalization of $53.99 billion, a PE ratio of 28.40, a P/E/G ratio of 0.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The business has a 50-day moving average of $97.96 and a 200-day moving average of $87.91.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, equities analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Agnico Eagle Mines in the fourth quarter valued at about $573,446,000. Capital World Investors boosted its holdings in Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after purchasing an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after buying an additional 3,155,927 shares during the last quarter. AGF Management Ltd. raised its holdings in Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after buying an additional 905,328 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after buying an additional 778,919 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Company Profile

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.