Agnico Eagle Mines (NYSE:AEM) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Several other research firms also recently weighed in on AEM. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. TD Securities upped their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Citigroup increased their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research report on Friday, October 24th. Finally, UBS Group increased their price target on Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Up 1.2%

AEM opened at $161.28 on Wednesday. The stock’s 50 day moving average price is $161.41 and its 200 day moving average price is $135.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The stock has a market cap of $81.04 billion, a P/E ratio of 23.54, a P/E/G ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines has a 12 month low of $75.17 and a 12 month high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. As a group, research analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pure Portfolios Holdings LLC boosted its stake in shares of Agnico Eagle Mines by 1.6% during the 3rd quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock worth $637,000 after acquiring an additional 60 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Agnico Eagle Mines by 1.2% during the third quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock valued at $951,000 after purchasing an additional 69 shares during the last quarter. Union Bancaire Privee UBP SA boosted its position in shares of Agnico Eagle Mines by 1.6% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock valued at $749,000 after purchasing an additional 72 shares during the period. Blue Bell Private Wealth Management LLC increased its stake in Agnico Eagle Mines by 59.7% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in Agnico Eagle Mines by 0.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock worth $979,000 after purchasing an additional 77 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

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.