Agnico Eagle Mines (TSE:AEM) Rating Lowered to “Hold” at Erste Group Bank

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

Several other equities research analysts have also commented on AEM. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. TD Securities boosted their price objective on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. set a C$337.00 price objective on Agnico Eagle Mines and gave the stock a “neutral” rating in a report on Thursday, January 29th. National Bank Financial raised their target price on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus boosted their price target on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$314.50.

Agnico Eagle Mines Stock Up 0.2%

Agnico Eagle Mines stock opened at C$252.57 on Tuesday. 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 has a one year low of C$135.40 and a one year high of C$348.94. The company has a 50-day simple moving average of C$292.05 and a 200-day simple moving average of C$254.04. The firm has a market capitalization of C$126.53 billion, a P/E ratio of 28.51, a P/E/G ratio of 22.97 and a beta of 1.67.

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 for the quarter. The firm had revenue of C$4.89 billion for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. As a group, equities analysts expect that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Insider Activity at Agnico Eagle Mines

In related news, 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 transaction of C$1,533,570.00. Following the transaction, the insider owned 31,381 shares in the company, valued at C$9,728,110. This trade represents a 13.62% decrease in their ownership of the stock. 0.08% of the stock is owned by corporate insiders.

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.