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

Wall Street Zen downgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday morning.

Several other analysts have also recently commented on AEM. Citigroup raised their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Bank of America boosted their price target on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. UBS Group increased their price objective on Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, December 1st. Finally, Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Six research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $201.60.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $190.90 on Friday. Agnico Eagle Mines has a 12 month low of $81.45 and a 12 month high of $191.88. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. The stock has a market cap of $95.78 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 0.59 and a beta of 0.63. The business has a fifty day simple moving average of $170.41 and a 200-day simple moving average of $153.41.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data 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. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business earned $1.14 EPS. On average, sell-side analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Several large investors have recently made changes to their positions in AEM. Ameritas Advisory Services LLC bought a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $25,000. True Wealth Design LLC lifted its stake 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 worth $26,000 after buying an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter worth $29,000. City State Bank boosted its holdings in shares of Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after buying an additional 110 shares during the period. Finally, Blue Bell Private Wealth Management LLC grew its stake in Agnico Eagle Mines by 59.7% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.