Agnico Eagle Mines (NYSE:AEM) Upgraded at Barclays

Key Points

• Barclays upgraded Agnico Eagle Mines to “strong-buy,” while the broader analyst consensus remains Moderate Buy with an average price target of $236.08. Other recent ratings were mixed, but most analysts still lean bullish on the stock.
• The company beat first-quarter earnings expectations, reporting $3.40 EPS versus estimates of $3.19 and revenue of $4 billion, up 66.1% year over year. Analysts now expect Agnico to earn 13.14 EPS for the full fiscal year.
• Shares were down 1.1% on the day and opened at $175.79, well below the stock’s 50-day and 200-day moving averages. Despite the pullback, institutional ownership remains high at 68.34%.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM was upgraded by research analysts at Barclays to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on AEM. JPMorgan Chase & Co. raised their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Wall Street Zen downgraded Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. Canadian Imperial Bank of Commerce cut their price target on Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating for the company in a research note on Tuesday, April 21st. Scotiabank reaffirmed an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. 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, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $236.08.

Agnico Eagle Mines Trading Down 1.1%

Shares of NYSE AEM opened at $175.79 on Thursday. Agnico Eagle Mines has a one year low of $114.60 and a one year high of $255.24. The firm has a market capitalization of $87.98 billion, a PE ratio of 16.52, a PEG ratio of 3.88 and a beta of 0.58. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $197.96 and a two-hundred day moving average price of $193.72.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts' consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the company posted $1.53 EPS. The business's quarterly revenue was up 66.1% compared to the same quarter last year. As a group, analysts predict that Agnico Eagle Mines will post 13.14 earnings per share for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in Agnico Eagle Mines by 2.8% in the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company's stock valued at $3,618,730,000 after buying an additional 572,473 shares during the last quarter. Vanguard Group Inc. grew its holdings in Agnico Eagle Mines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company's stock valued at $3,557,772,000 after buying an additional 309,717 shares during the last quarter. Van ECK Associates Corp grew its holdings in Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company's stock valued at $2,920,258,000 after buying an additional 3,062,705 shares during the last quarter. TD Asset Management Inc grew its holdings in Agnico Eagle Mines by 1.7% in the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company's stock valued at $1,641,239,000 after buying an additional 165,263 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Agnico Eagle Mines by 4.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company's stock valued at $1,489,509,000 after buying an additional 332,797 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Trending Headlines about Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle announced a major restart and expansion of its Hope Bay project in Nunavut, committing US$2.4 billion to build an underground gold mine and processing facility. The move supports future production growth and reinforces the company’s long-term development pipeline. Agnico Eagle Mines (AEM) To Begin Redevelopment Of The Hope Bay Mine With $2.4 Billion Investment
• Positive Sentiment: The company also expanded its stake in Wallbridge Mining by investing C$22.4 million, lifting ownership to about 19.9%. That investment could help advance Wallbridge’s Fenelon gold project and gives Agnico more exposure to additional Quebec gold assets. Agnico Eagle Expands Wallbridge Stake Through C$22.4M Investment
• Neutral Sentiment: Recent coverage highlighted Agnico Eagle’s strong earnings quality, cash-rich balance sheet, and profitability, which may support investor confidence but did not appear to be a new market-moving catalyst on its own. Agnico Eagle Earnings Call Highlights Cash-Rich Growth
• Negative Sentiment: Investors are also focusing on valuation and execution risk after a recent selloff, with shares down over the past month and quarter. The big Hope Bay commitment raises future growth potential, but it also increases capital spending expectations and near-term pressure on returns. Agnico Eagle: A 15 Percent Selloff In A Best-In-Class Gold Miner

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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