StockNews.com Upgrades Agnico Eagle Mines (NYSE:AEM) to “Strong-Buy”

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

A number of other equities analysts have also weighed in on AEM. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $92.75.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded down $5.06 during midday trading on Monday, reaching $95.75. 4,623,011 shares of the company’s stock traded hands, compared to its average volume of 1,902,290. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The company has a market cap of $48.09 billion, a P/E ratio of 47.87, a PEG ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines has a 1 year low of $45.75 and a 1 year high of $101.45. The company has a fifty day simple moving average of $86.73 and a two-hundred day simple moving average of $83.40.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.88%. Equities analysts predict that Agnico Eagle Mines will post 4.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its position in shares of Agnico Eagle Mines by 28.7% during the third quarter. Creative Planning now owns 37,876 shares of the mining company’s stock worth $3,051,000 after acquiring an additional 8,456 shares during the last quarter. Blue Trust Inc. grew its position in Agnico Eagle Mines by 124.2% during the 3rd quarter. Blue Trust Inc. now owns 3,663 shares of the mining company’s stock worth $295,000 after purchasing an additional 2,029 shares during the last quarter. Veracity Capital LLC acquired a new position in Agnico Eagle Mines in the third quarter valued at $231,000. OLD National Bancorp IN purchased a new position in shares of Agnico Eagle Mines during the third quarter worth about $232,000. Finally, McClarren Financial Advisors Inc. lifted its position in Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after acquiring an additional 445 shares during the period. 68.34% of the stock is currently 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.