Agnico Eagle Mines (NYSE:AEM) Cut to “Hold” at Erste Group Bank

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by analysts at Erste Group Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Finviz reports.

AEM has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Citigroup raised their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. JPMorgan Chase & Co. dropped their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Down 0.1%

NYSE:AEM traded down $0.21 during mid-day trading on Tuesday, hitting $183.83. The stock had a trading volume of 1,109,975 shares, compared to its average volume of 2,886,063. Agnico Eagle Mines has a twelve month low of $94.77 and a twelve month high of $255.24. The stock has a 50-day simple moving average of $213.56 and a two-hundred day simple moving average of $183.63. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $92.11 billion, a PE ratio of 20.72 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The firm’s revenue was up 60.3% on a year-over-year basis. On average, equities research analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Up Capital Management Inc. purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $342,000. Purpose Unlimited Inc. purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $581,000. Rockefeller Capital Management L.P. grew its position in shares of Agnico Eagle Mines by 99.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 37,051 shares of the mining company’s stock worth $6,281,000 after acquiring an additional 18,486 shares during the last quarter. World Investment Advisors increased its holdings in shares of Agnico Eagle Mines by 23.1% in the 4th quarter. World Investment Advisors now owns 5,389 shares of the mining company’s stock valued at $914,000 after acquiring an additional 1,010 shares during the period. Finally, Corient Private Wealth LLC increased its stake in Agnico Eagle Mines by 3.3% in the fourth quarter. Corient Private Wealth LLC now owns 45,515 shares of the mining company’s stock valued at $7,716,000 after purchasing an additional 1,454 shares during the period. Institutional investors and hedge funds 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.