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

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

AEM has been the subject of several other research reports. Royal Bank Of Canada lowered their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Scotia reduced their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 3rd. 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. UBS Group lowered their price objective on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $201.74 on Monday. Agnico Eagle Mines has a 52 week low of $134.38 and a 52 week high of $255.24. The business’s fifty day simple moving average is $171.68 and its 200-day simple moving average is $186.65. The firm has a market cap of $102.26 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.55 and a beta of 0.67. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01.

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

Institutional Trading of Agnico Eagle Mines

Institutional investors and hedge funds have recently bought and sold shares of the business. RFG Advisory LLC boosted its stake in shares of Agnico Eagle Mines by 112.2% in the second quarter. RFG Advisory LLC now owns 14,578 shares of the mining company’s stock valued at $2,261,000 after purchasing an additional 7,708 shares during the period. Cypress Capital Management LLC WY increased its position in shares of Agnico Eagle Mines by 2.9% during the second quarter. Cypress Capital Management LLC WY now owns 11,406 shares of the mining company’s stock worth $1,769,000 after acquiring an additional 321 shares during the period. IFP Advisors Inc increased its position in shares of Agnico Eagle Mines by 31.3% during the second quarter. IFP Advisors Inc now owns 9,966 shares of the mining company’s stock worth $1,546,000 after acquiring an additional 2,374 shares during the period. West Family Investments Inc. raised its stake in shares of Agnico Eagle Mines by 104.4% in the second quarter. West Family Investments Inc. now owns 2,257 shares of the mining company’s stock valued at $350,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Carmignac Gestion acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at $17,620,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

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.