Agnico Eagle Mines (NYSE:AEM) Stock Rating Upgraded by Erste Group Bank

Key Points

• Erste Group Bank upgraded Agnico Eagle Mines (NYSE: AEM) from "hold" to "buy," and the stock carries a consensus analyst rating of Buy with an average price target of $234.91.
• Q4 results beat expectations: AEM reported $2.69 EPS vs. $2.56 expected and revenue of $3.53 billion vs. $3.40 billion, with revenue up 60.3% year‑over‑year and analysts forecasting ~4.63 EPS for the year.
• Large institutional investors have been adding shares (Norges Bank, Capital World Investors, VanEck), with institutions owning about 68.34% of the stock; market cap is ~$115.2B, P/E ~25.9, and the shares recently traded near $229.93 within a 1‑year range of $94.77–$255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM was upgraded by equities researchers at Erste Group Bank from a "hold" rating to a "buy" rating in a research report issued on Thursday, MarketBeat reports.

Several other equities research analysts also recently issued reports on the company. Raymond James Financial reissued an "outperform" rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a research report on Sunday, December 7th. Wall Street Zen lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. reduced their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a "neutral" rating for the company in a research report on Wednesday, February 18th. Finally, TD Securities raised their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research note on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $234.91.

Agnico Eagle Mines Trading Down 1.2%

Shares of AEM opened at $229.93 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 1-year low of $94.77 and a 1-year high of $255.24. The stock has a market capitalization of $115.20 billion, a P/E ratio of 25.89 and a beta of 0.61. The business's 50-day moving average price is $205.98 and its 200 day moving average price is $177.13.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The firm's quarterly revenue was up 60.3% on a year-over-year basis. Analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several large investors have recently bought and sold shares of AEM. Norges Bank acquired a new position in Agnico Eagle Mines in the fourth quarter worth about $1,367,783,000. Capital World Investors increased its stake in shares of Agnico Eagle Mines by 20.0% in 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 buying an additional 3,462,968 shares in the last quarter. Van ECK Associates Corp lifted its position in Agnico Eagle Mines by 21.6% during the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company's stock worth $2,920,258,000 after buying an additional 3,062,705 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Agnico Eagle Mines by 38.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company's stock worth $987,398,000 after acquiring an additional 2,319,131 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased 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 valued at $538,506,000 after acquiring an additional 1,474,385 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

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.

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