Agnico Eagle Mines (NYSE:AEM) Earns “Hold” Rating from Freedom Broker

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM)‘s stock had its “hold” rating reissued by Freedom Broker in a report released on Thursday, Benzinga reports. They currently have a $212.00 price objective on the mining company’s stock, down from their previous price objective of $255.00. Freedom Broker‘s price target indicates a potential upside of 20.35% from the company’s current price.

Other research analysts have also issued reports about the stock. Zacks Research upgraded shares of Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their target price for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. RBC Dominion Securities set a $225.00 price target on Agnico Eagle Mines and gave the stock a “sector perform” rating in a report on Thursday. Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings raised Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, October 14th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $224.33.

Agnico Eagle Mines Stock Performance

NYSE:AEM traded down $11.20 during mid-day trading on Thursday, reaching $176.16. 1,952,315 shares of the stock were exchanged, compared to its average volume of 2,629,919. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 1 year low of $134.38 and a 1 year high of $255.24. The company has a 50 day simple moving average of $195.46 and a 200-day simple moving average of $181.27. The stock has a market capitalization of $89.30 billion, a P/E ratio of 15.07, a P/E/G ratio of 2.75 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The company’s revenue was up 35.0% compared to the same quarter last year. Analysts anticipate that Agnico Eagle Mines will post 11.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Large investors have recently added to or reduced their stakes in the business. Royal Fund Management LLC increased its stake in Agnico Eagle Mines by 0.4% in the third quarter. Royal Fund Management LLC now owns 23,289 shares of the mining company’s stock valued at $4,268,000 after acquiring an additional 99 shares during the period. Brookstone Capital Management lifted its stake in Agnico Eagle Mines by 6.5% during the third quarter. Brookstone Capital Management now owns 1,860 shares of the mining company’s stock worth $341,000 after purchasing an additional 114 shares during the period. NBT Bank N.A. bought a new position in Agnico Eagle Mines during the third quarter worth about $1,536,000. Lmcg Investments LLC boosted its holdings in Agnico Eagle Mines by 0.4% during the third quarter. Lmcg Investments LLC now owns 167,199 shares of the mining company’s stock valued at $30,643,000 after purchasing an additional 614 shares in the last quarter. Finally, Cardinal Point Capital Management ULC boosted its holdings in Agnico Eagle Mines by 8.7% during the third quarter. Cardinal Point Capital Management ULC now owns 77,014 shares of the mining company’s stock valued at $14,146,000 after purchasing an additional 6,178 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.