Agnico Eagle Mines (NYSE:AEM) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other equities analysts also recently weighed in on AEM. Citigroup lifted their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Bank of America increased their price target on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial boosted their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Finally, TD Securities lifted their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $185.50.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $168.82 on Thursday. The business has a 50-day moving average of $166.98 and a 200-day moving average of $143.52. Agnico Eagle Mines has a 1 year low of $76.91 and a 1 year high of $187.50. The company has a market capitalization of $84.69 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 0.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, equities research analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased 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 in the last quarter. XTX Topco Ltd bought a new position in shares of Agnico Eagle Mines in the 1st quarter worth $412,000. US Bancorp DE grew its position in Agnico Eagle Mines by 2.0% in the 1st quarter. US Bancorp DE now owns 6,908 shares of the mining company’s stock valued at $749,000 after purchasing an additional 138 shares during the period. PNC Financial Services Group Inc. increased its stake in Agnico Eagle Mines by 15.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,358 shares of the mining company’s stock valued at $1,448,000 after purchasing an additional 1,806 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new position in Agnico Eagle Mines during the first quarter worth $257,000. 68.34% of the stock is owned by institutional investors and hedge funds.

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.