Agnico Eagle Mines (NYSE:AEM) Receives Buy (A) Rating from Weiss Ratings

Key Points

• Agnico Eagle Mines received a "buy (A)" rating from Weiss Ratings, indicating strong analyst confidence in the stock.
• The company has seen a significant upgrade from several brokerages, with Zacks raising its rating to "strong-buy" and UBS increasing its price target from $125.00 to $160.00.
• Agnico Eagle Mines reported a 35.6% increase in revenue year-over-year, achieving $2.86 billion in revenue during its last quarter.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM's stock had its "buy (a)" rating reiterated by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently weighed in on AEM. Zacks Research raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. UBS Group raised their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Finally, CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of "Buy" and a consensus target price of $141.40.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded up $2.20 on Wednesday, hitting $168.49. The company's stock had a trading volume of 1,254,364 shares, compared to its average volume of 2,965,244. The company has a 50-day simple moving average of $147.11 and a 200 day simple moving average of $127.11. Agnico Eagle Mines has a 1 year low of $75.17 and a 1 year high of $172.21. The company has a market capitalization of $84.72 billion, a PE ratio of 28.65, a PEG ratio of 1.14 and a beta of 0.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter last year, the firm posted $1.07 EPS. The company's revenue was up 35.6% compared to the same quarter last year. Sell-side analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds have recently bought and sold shares of the company. Wedmont Private Capital purchased a new stake in Agnico Eagle Mines during the third quarter valued at $209,000. Veracity Capital LLC increased its position in Agnico Eagle Mines by 3.5% during the third quarter. Veracity Capital LLC now owns 3,337 shares of the mining company's stock valued at $562,000 after acquiring an additional 113 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Agnico Eagle Mines by 122.9% during the third quarter. Assenagon Asset Management S.A. now owns 40,503 shares of the mining company's stock valued at $6,823,000 after acquiring an additional 22,336 shares during the last quarter. Sonora Investment Management Group LLC purchased a new stake in Agnico Eagle Mines during the third quarter valued at $427,000. Finally, Union Bancaire Privee UBP SA increased its position in Agnico Eagle Mines by 1.6% during the third quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company's stock valued at $749,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

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.

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