Agnico Eagle Mines (TSE:AEM) Stock Rating Upgraded by Erste Group Bank

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) was upgraded by research analysts at Erste Group Bank from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on AEM. JPMorgan Chase & Co. set a C$337.00 target price on Agnico Eagle Mines and gave the stock a “neutral” rating in a research report on Thursday, January 29th. TD Securities upped their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada cut Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Stifel Nicolaus lifted their price target on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, National Bank Financial increased their price objective on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and a consensus price target of C$314.50.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at C$303.00 on Thursday. The firm has a market capitalization of C$151.59 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 22.97 and a beta of 1.67. Agnico Eagle Mines has a one year low of C$135.40 and a one year high of C$348.94. The stock’s 50 day moving average price is C$283.70 and its 200 day moving average price is C$245.44. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.89 and a current ratio of 2.02.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings data on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. The company had revenue of C$4.89 billion during the quarter. As a group, sell-side analysts expect that Agnico Eagle Mines will post 5.4966052 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider James Porter sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the completion of the transaction, the insider directly owned 7,734 shares in the company, valued at approximately C$1,913,546.28. The trade was a 27.95% decrease in their ownership of the stock. Also, insider Guy Gosselin sold 4,947 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the completion of the sale, the insider owned 31,381 shares in the company, valued at approximately C$9,728,110. This represents a 13.62% decrease in their ownership of the stock. Insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.