Agnico Eagle Mines (NYSE:AEM) Upgraded to “Buy” by 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 released on Thursday.

A number of other brokerages have also issued reports on AEM. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a sector outperform rating in a research note on Thursday, May 23rd. Citigroup boosted their price objective on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $58.00 to $59.00 and gave the stock a hold rating in a research report on Thursday, June 20th. CIBC upped their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an outperform rating in a report on Tuesday, April 30th. Finally, BMO Capital Markets decreased their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating for the company in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of Moderate Buy and an average price target of $72.22.

Agnico Eagle Mines Stock Down 1.5 %

Shares of AEM opened at $65.40 on Thursday. The firm has a market cap of $32.72 billion, a P/E ratio of 68.84, a price-to-earnings-growth ratio of 0.72 and a beta of 1.11. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $71.50. The company’s 50-day moving average price is $66.31 and its 200 day moving average price is $58.04. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

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

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clean Yield Group acquired a new position in shares of Agnico Eagle Mines during the 1st quarter worth $60,000. Boston Partners purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at about $297,000. Cetera Advisors LLC purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at about $293,000. Cetera Investment Advisers purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter worth about $2,517,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter worth about $50,000. Institutional investors and hedge funds 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.