Agnico Eagle Mines (NYSE:AEM) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

AEM has been the topic of a number of other research reports. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $219.00 to $276.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. CIBC increased their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Citigroup raised their target price on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Agnico Eagle Mines in a report on Thursday, January 29th. They issued a “neutral” rating and a $248.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Buy” and an average target price of $224.73.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $190.65 on Friday. The business has a fifty day moving average of $183.41 and a 200 day moving average of $163.08. Agnico Eagle Mines has a 1 year low of $92.11 and a 1 year high of $225.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The firm has a market capitalization of $95.45 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 0.52 and a beta of 0.63.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC raised its stake in Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after purchasing an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC raised its stake in 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 during the last quarter. HB Wealth Management LLC lifted its holdings in Agnico Eagle Mines by 13.0% in the 2nd quarter. HB Wealth Management LLC now owns 5,571 shares of the mining company’s stock valued at $663,000 after purchasing an additional 639 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in Agnico Eagle Mines by 6.0% during the 2nd quarter. Truist Financial Corp now owns 44,413 shares of the mining company’s stock worth $5,282,000 after purchasing an additional 2,518 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.