Agnico Eagle Mines (NYSE:AEM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a hold rating to a buy rating in a research report report published on Thursday.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating on the stock in a research note on Thursday, June 20th. Citigroup upped their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a buy rating in a research report on Tuesday, April 30th. TD Securities boosted their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Scotiabank upped their price objective on Agnico Eagle Mines from $71.00 to $81.00 and gave the company a sector outperform rating in a research report on Thursday, May 23rd. Finally, National Bank Financial reiterated an outperform overweight rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $72.22.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $66.38 on Thursday. The firm’s fifty day moving average is $66.28 and its two-hundred day moving average is $57.85. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $71.50. The company has a market cap of $33.21 billion, a P/E ratio of 69.87, a P/E/G ratio of 0.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up 21.2% on a year-over-year basis. As a group, analysts anticipate that Agnico Eagle Mines will post 3.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AEM. Stephens Consulting LLC bought a new position in Agnico Eagle Mines in the 1st quarter worth about $30,000. Bruce G. Allen Investments LLC purchased a new position in Agnico Eagle Mines during the 4th quarter worth $33,000. CVA Family Office LLC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth $36,000. Janiczek Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.