Agnico Eagle Mines (AEM) Now Covered by Barclays

Barclays began coverage on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a research report sent to investors on Wednesday, The Fly reports. The brokerage issued an overweight rating and a $39.00 price objective on the mining company’s stock.

A number of other research firms have also recently commented on AEM. Zacks Investment Research cut Agnico Eagle Mines from a hold rating to a strong sell rating in a research note on Thursday, July 12th. ValuEngine raised Agnico Eagle Mines from a hold rating to a buy rating in a research note on Monday, July 2nd. TD Securities increased their target price on Agnico Eagle Mines from $55.00 to $56.00 and gave the company a buy rating in a research note on Tuesday, July 31st. Royal Bank of Canada raised Agnico Eagle Mines from a sector perform rating to an outperform rating and increased their target price for the company from $49.00 to $55.00 in a research note on Monday, July 30th. Finally, National Bank Financial raised Agnico Eagle Mines from a sector perform rating to an outperform rating in a research note on Thursday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Agnico Eagle Mines currently has a consensus rating of Buy and a consensus target price of $55.17.

AEM opened at $37.29 on Wednesday. The firm has a market capitalization of $8.01 billion, a P/E ratio of 32.86 and a beta of -0.53. The company has a current ratio of 4.02, a quick ratio of 2.83 and a debt-to-equity ratio of 0.35. Agnico Eagle Mines has a 52 week low of $32.18 and a 52 week high of $49.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 25th. The mining company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.07). The firm had revenue of $556.28 million during the quarter, compared to the consensus estimate of $536.81 million. Agnico Eagle Mines had a net margin of 6.84% and a return on equity of 3.07%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. As a group, sell-side analysts anticipate that Agnico Eagle Mines will post 0.29 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Agnico Eagle Mines by 1.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,895,937 shares of the mining company’s stock valued at $86,891,000 after buying an additional 20,623 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Agnico Eagle Mines by 19.2% during the second quarter. CIBC Asset Management Inc now owns 1,843,348 shares of the mining company’s stock valued at $84,524,000 after buying an additional 296,758 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Agnico Eagle Mines by 13.6% during the second quarter. Renaissance Technologies LLC now owns 1,755,600 shares of the mining company’s stock valued at $80,459,000 after buying an additional 209,800 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Agnico Eagle Mines by 144.3% during the second quarter. Toronto Dominion Bank now owns 1,641,990 shares of the mining company’s stock valued at $75,883,000 after buying an additional 969,997 shares during the last quarter. Finally, Flossbach Von Storch AG grew its stake in shares of Agnico Eagle Mines by 13.7% during the second quarter. Flossbach Von Storch AG now owns 1,558,200 shares of the mining company’s stock valued at $71,412,000 after buying an additional 188,100 shares during the last quarter. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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