Agnico Eagle Mines (NYSE:AEM) Raised to Hold at Zacks Research

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

A number of other equities research analysts also recently issued reports on the stock. Citigroup decreased their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their target price on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada decreased their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Stock Down 1.5%

Shares of NYSE:AEM opened at $201.74 on Monday. The company has a market capitalization of $102.26 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.55 and a beta of 0.67. Agnico Eagle Mines has a 12-month low of $134.38 and a 12-month high of $255.24. The business has a 50-day moving average price of $171.68 and a 200 day moving average price of $186.65. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. Agnico Eagle Mines’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.94 earnings per share. Sell-side analysts expect that Agnico Eagle Mines will post 11.56 EPS for the current year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after acquiring an additional 331 shares in the last quarter. AQR Capital Management LLC raised its holdings in Agnico Eagle Mines by 36.4% in the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after acquiring an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Agnico Eagle Mines by 57.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after purchasing an additional 1,160 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Agnico Eagle Mines by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after purchasing an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Agnico Eagle Mines by 25.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock worth $110,000 after purchasing an additional 187 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited is a Canadian-based gold mining company engaged in the exploration, development and production of gold and other mineral resources. The company’s primary product is gold, with silver and other byproducts also recovered from certain operations. Its activities include operating mines, advancing development projects and conducting exploration to expand and replace mineral reserves.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s major gold producers.