Agnico Eagle Mines (NYSE:AEM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a buy rating to a strong-buy rating in a research note released on Saturday.

AEM has been the subject of several other reports. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a report on Sunday, December 7th. UBS Group lifted their price target on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, December 1st. Citigroup boosted their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Finally, CIBC lifted their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Six analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $201.60.

Agnico Eagle Mines Stock Performance

AEM stock opened at $175.31 on Friday. The company has a 50 day moving average price of $168.35 and a 200 day moving average price of $151.60. Agnico Eagle Mines has a fifty-two week low of $79.47 and a fifty-two week high of $187.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The stock has a market capitalization of $87.96 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 0.50 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating 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 company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the firm earned $1.14 EPS. Analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in shares of Agnico Eagle Mines in the second quarter valued at approximately $25,000. True Wealth Design LLC lifted its holdings in Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Agnico Eagle Mines in the 2nd quarter valued at $29,000. City State Bank increased its position in 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 lifted its holdings in shares of Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.