Agnico Eagle Mines (NYSE:AEM) Rating Lowered to “Hold” at Erste Group Bank

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) was downgraded by equities research analysts at Erste Group Bank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce set a $296.00 price target on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. UBS Group restated a “neutral” rating and issued a $240.00 price target on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. lowered their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.91.

Check Out Our Latest Research Report on Agnico Eagle Mines

Agnico Eagle Mines Trading Up 1.6%

AEM opened at $228.11 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 52 week low of $92.11 and a 52 week high of $229.09. The stock has a market cap of $114.29 billion, a PE ratio of 25.69, a PEG ratio of 0.52 and a beta of 0.63. The business has a 50 day moving average of $194.91 and a 200-day moving average of $170.83.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. Equities research analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AEM. Norges Bank bought a new position in Agnico Eagle Mines during the 4th quarter valued at about $1,367,783,000. Capital World Investors lifted its position in Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. Van ECK Associates Corp boosted its holdings in Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after purchasing an additional 3,062,705 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after purchasing an additional 2,319,131 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Agnico Eagle Mines by 48.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after purchasing an additional 1,474,385 shares during the period. 68.34% of the stock is owned by institutional investors.

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About Agnico Eagle Mines

(Get Free Report)

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

Further Reading

Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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