Agnico Eagle Mines Limited (NYSE:AEM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned an average rating of “Moderate Buy” from the seventeen research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $233.6154.

Several equities research analysts have commented on AEM shares. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Scotiabank decreased their price target on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Citigroup reiterated a “positive” rating on shares of Agnico Eagle Mines in a report on Wednesday. Royal Bank Of Canada cut their price objective on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Finally, Bank of America reduced their target price on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 9th.

Agnico Eagle Mines Price Performance

AEM stock opened at $136.89 on Monday. The stock has a 50-day moving average price of $165.41 and a two-hundred day moving average price of $191.56. Agnico Eagle Mines has a 1 year low of $117.65 and a 1 year high of $255.24. The stock has a market cap of $69.48 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.82 and a beta of 0.60. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share. Equities analysts forecast that Agnico Eagle Mines will post 12.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. raised its position in Agnico Eagle Mines by 42.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock worth $11,088,000 after acquiring an additional 19,647 shares in the last quarter. Gunderson Capital Management Inc. lifted its stake in Agnico Eagle Mines by 187.6% in the fourth quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock valued at $8,155,000 after acquiring an additional 31,378 shares during the last quarter. TB Alternative Assets Ltd. grew its position in shares of Agnico Eagle Mines by 34.2% in the 4th quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock valued at $38,929,000 after acquiring an additional 58,490 shares during the period. Cannell & Spears LLC grew its position in shares of Agnico Eagle Mines by 15.0% in the 3rd quarter. Cannell & Spears LLC now owns 559,751 shares of the mining company’s stock valued at $94,352,000 after acquiring an additional 72,932 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Agnico Eagle Mines by 1.3% during the 3rd quarter. Bank of America Corp DE now owns 5,635,979 shares of the mining company’s stock worth $950,001,000 after purchasing an additional 73,422 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

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.