Agnico Eagle Mines (TSE:AEM) Downgraded by Erste Group Bank to Hold

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

Other analysts also recently issued reports about the stock. TD Securities boosted their target price on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 10th. National Bank Financial lifted their price target on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Stifel Nicolaus upped their price target on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. set a C$337.00 price objective on Agnico Eagle Mines and gave the company a “neutral” rating in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of C$314.50.

Agnico Eagle Mines Price Performance

TSE:AEM opened at C$252.57 on Tuesday. The business’s 50-day moving average price is C$292.05 and its 200 day moving average price is C$254.04. The firm has a market cap of C$126.53 billion, a P/E ratio of 28.51, a PEG ratio of 22.97 and a beta of 1.67. Agnico Eagle Mines has a 52-week low of C$135.40 and a 52-week high of C$348.94. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 1.68.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings results on Friday, February 13th. The company reported C$3.71 EPS for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. The firm had revenue of C$4.89 billion for the quarter. As a group, sell-side analysts predict that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Insider Activity at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider Guy Gosselin sold 4,947 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the completion of the transaction, the insider directly owned 31,381 shares in the company, valued at C$9,728,110. This trade represents a 13.62% decrease in their ownership of the stock. 0.08% of the stock is currently owned by insiders.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.