Agnico Eagle Mines (TSE:AEM) Upgraded to Strong-Buy at Freedom Broker

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

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th. Barclays reduced their target price on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a report on Thursday, July 16th. TD decreased their price target on shares of Agnico Eagle Mines from C$244.00 to C$242.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, National Bank Financial lowered their price target on shares of Agnico Eagle Mines from C$310.00 to C$305.00 and set an “outperform” rating on the stock in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$292.00.

Agnico Eagle Mines Stock Up 3.3%

AEM opened at C$238.41 on Monday. Agnico Eagle Mines has a 1-year low of C$188.48 and a 1-year high of C$348.94. The stock’s fifty day simple moving average is C$269.07 and its 200 day simple moving average is C$262.68. The company has a current ratio of 2.75, a quick ratio of 0.89 and a debt-to-equity ratio of 1.11. The stock has a market cap of C$119.44 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 22.97 and a beta of 2.00.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings data on Wednesday, October 28th. The company reported C$3.72 EPS for the quarter. Agnico Eagle Mines had a net margin of 41.00% and a return on equity of 22.64%. The firm had revenue of C$5.10 billion during the quarter. As a group, research analysts expect that Agnico Eagle Mines will post 5.50 earnings per share for the current year.

Insider Buying and Selling

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,500 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of C$273.35, for a total transaction of C$410,025.00. Following the transaction, the director owned 16,182 shares in the company, valued at C$4,423,349.70. This trade represents a 8.48% decrease in their position. 0.08% of the stock is currently owned by corporate insiders.

About Agnico Eagle Mines

Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.