Agnico Eagle Mines (NYSE:AEM) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

AEM has been the subject of several other reports. UBS Group raised their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 16th. CIBC increased their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. TD Securities raised their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research note on Friday, October 24th. Finally, Bank of America increased their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $184.50.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $159.58 on Wednesday. The stock has a fifty day moving average price of $161.07 and a 200 day moving average price of $135.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The stock has a market cap of $80.18 billion, a PE ratio of 23.30, a P/E/G ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines has a 1 year low of $75.17 and a 1 year high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.During the same quarter last year, the business posted $1.14 earnings per share. Sell-side analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Several hedge funds and other institutional investors have recently bought and sold shares of AEM. Norges Bank purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter worth $938,644,000. TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 42.8% in the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after purchasing an additional 2,709,005 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after purchasing an additional 2,319,131 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Agnico Eagle Mines by 48.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after buying an additional 1,474,385 shares during the period. Finally, Invesco Ltd. lifted its position in Agnico Eagle Mines by 53.1% during the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after buying an additional 1,444,746 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.