Agnico Eagle Mines (NYSE:AEM) Upgraded to Buy at 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 sent to investors on Thursday.

AEM has been the subject of a number of other reports. CIBC raised their target price on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an outperform rating in a research note on Tuesday, April 30th. Citigroup boosted their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $58.00 to $59.00 and gave the company a hold rating in a research note on Thursday, June 20th. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Finally, National Bank Financial reaffirmed an outperform overweight rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $72.22.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $65.40 on Thursday. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The firm has a market cap of $32.72 billion, a PE ratio of 68.84, a price-to-earnings-growth ratio of 0.74 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 two-hundred day moving average price is $58.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned $0.57 EPS. Agnico Eagle Mines’s revenue was up 21.2% compared to the same quarter last year. On average, equities analysts anticipate that Agnico Eagle Mines will post 3.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clean Yield Group acquired a new position in Agnico Eagle Mines in the first quarter valued at about $60,000. Boston Partners bought a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at about $297,000. Cetera Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at approximately $293,000. Cetera Investment Advisers bought a new position in Agnico Eagle Mines during the 1st quarter worth approximately $2,517,000. Finally, Western Pacific Wealth Management LP acquired a new position in Agnico Eagle Mines during the first quarter valued at approximately $50,000. 68.34% of the stock is currently owned by institutional investors.

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.