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

StockNews.com 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 Monday morning.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Scotiabank lifted their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus price target of $92.75.

Agnico Eagle Mines Price Performance

AEM opened at $95.75 on Monday. Agnico Eagle Mines has a 12-month low of $45.75 and a 12-month high of $101.45. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $86.73 and its 200-day simple moving average is $83.40. The company has a market capitalization of $48.09 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.66 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.88%. On average, equities research analysts anticipate that Agnico Eagle Mines will post 4.14 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 80.00%.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AEM. Creative Planning raised its stake in shares of Agnico Eagle Mines by 28.7% during the third quarter. Creative Planning now owns 37,876 shares of the mining company’s stock worth $3,051,000 after purchasing an additional 8,456 shares during the last quarter. Blue Trust Inc. grew its holdings in Agnico Eagle Mines by 124.2% in the third quarter. Blue Trust Inc. now owns 3,663 shares of the mining company’s stock valued at $295,000 after purchasing an additional 2,029 shares during the last quarter. Veracity Capital LLC acquired a new stake in shares of Agnico Eagle Mines during the third quarter valued at $231,000. OLD National Bancorp IN acquired a new stake in shares of Agnico Eagle Mines during the third quarter valued at $232,000. Finally, McClarren Financial Advisors Inc. boosted its stake in shares of Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after acquiring an additional 445 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

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.