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

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Raymond James Financial reiterated an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Citigroup raised their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $232.18.

Get Our Latest Analysis on AEM

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $202.84 on Monday. The business has a 50-day simple moving average of $212.56 and a 200 day simple moving average of $185.26. Agnico Eagle Mines has a one year low of $94.77 and a one year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. The firm has a market capitalization of $101.63 billion, a price-to-earnings ratio of 22.84 and a beta of 0.61.

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

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. grew its holdings in shares of Agnico Eagle Mines by 13.4% in the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock valued at $192,951,000 after acquiring an additional 134,147 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Agnico Eagle Mines by 386.5% during the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after acquiring an additional 149,506 shares during the period. Campbell & CO Investment Adviser LLC lifted its holdings in Agnico Eagle Mines by 1,560.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after acquiring an additional 45,746 shares during the period. AustralianSuper Pty Ltd purchased a new position in Agnico Eagle Mines in the third quarter worth $23,958,000. Finally, TD Asset Management Inc boosted its position in Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after purchasing an additional 143,645 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines News Summary

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About Agnico Eagle Mines

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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