Agnico Eagle Mines (NYSE:AEM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a buy rating to a strong-buy rating in a report published on Saturday morning.

AEM has been the topic of a number of other reports. UBS Group raised their target price 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. CIBC increased their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. TD Securities boosted their target price on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Citigroup upped their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday, October 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $166.46 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $164.77 and its two-hundred day moving average price is $140.04. Agnico Eagle Mines has a 52-week low of $76.91 and a 52-week high of $187.50. The stock has a market capitalization of $83.50 billion, a P/E ratio of 24.30, a P/E/G ratio of 0.70 and a beta of 0.45.

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

Institutional Trading of Agnico Eagle Mines

A number of institutional investors have recently made changes to their positions in AEM. Hussman Strategic Advisors Inc. lifted its stake in Agnico Eagle Mines by 87.5% during the second quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock valued at $18,196,000 after purchasing an additional 71,400 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines in the second quarter valued at $232,000. Zurich Insurance Group Ltd FI lifted its position in shares of Agnico Eagle Mines by 32.6% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock valued at $55,214,000 after acquiring an additional 125,223 shares during the last quarter. Atticus Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at $222,000. Finally, Sienna Gestion boosted its stake in shares of Agnico Eagle Mines by 10.3% during the 2nd quarter. Sienna Gestion now owns 95,400 shares of the mining company’s stock worth $10,357,000 after acquiring an additional 8,900 shares in 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.