Agnico Eagle Mines (NYSE:AEM) Downgraded by Wall Street Zen to Buy

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

Several other analysts also recently issued reports on AEM. CIBC boosted their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Raymond James Financial increased their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a report on Friday, October 24th. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Finally, Bank of America boosted their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM traded up $6.62 during midday trading on Friday, reaching $168.03. The company’s stock had a trading volume of 2,914,315 shares, compared to its average volume of 2,975,079. Agnico Eagle Mines has a one year low of $75.17 and a one year high of $187.50. The company has a market cap of $84.43 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. The company has a 50 day moving average price of $161.41 and a 200 day moving average price of $136.16. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.40. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same quarter in the previous year, the business posted $1.14 earnings per share. On average, equities research analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in Agnico Eagle Mines during the 2nd quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Agnico Eagle Mines during the first quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Agnico Eagle Mines in the first quarter valued at $26,000. True Wealth Design LLC raised its holdings in shares of Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Agnico Eagle Mines during the 2nd quarter worth about $29,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

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.