Agnico Eagle Mines (TSE:AEM) Stock Rating Upgraded by ATB Cormark Capital Markets

Key Points

• ATB Cormark upgraded Agnico Eagle Mines from a "sector" rating to an "outperform" in its latest research report, signaling increased analyst optimism.
• Analyst views are mixed but generally positive — four Buys and three Holds result in an average rating of "Moderate Buy" and an average target price of C$324.20.
• Agnico shares traded down to C$244.50 (down C$5.17) on lighter-than-average volume; the company has a market cap of C$122.49B, a P/E of 23.02, and reported quarterly EPS of C$4.73 on C$5.70B revenue.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM was upgraded by stock analysts at ATB Cormark Capital Markets from a "sector" rating to an "outperform" rating in a research report issued to clients and investors on Monday,BayStreet.CA reports.

A number of other research firms also recently issued reports on AEM. TD Securities lifted their price target on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Erste Group Bank cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 24th. National Bank Financial lifted their price objective on Agnico Eagle Mines from C$330.00 to C$345.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. JPMorgan Chase & Co. decreased their price objective on Agnico Eagle Mines from C$321.00 to C$300.00 in a research note on Thursday, April 23rd. Finally, Stifel Nicolaus lifted their price objective on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a "buy" rating in a research note on Tuesday, February 10th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$324.20.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock traded down C$5.17 during midday trading on Monday, hitting C$244.50. 300,926 shares of the company were exchanged, compared to its average volume of 1,009,886. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.15 and a quick ratio of 0.89. The firm has a market cap of C$122.49 billion, a P/E ratio of 23.02, a PEG ratio of 22.97 and a beta of 1.87. Agnico Eagle Mines has a 52 week low of C$144.21 and a 52 week high of C$348.94. The firm has a 50 day simple moving average of C$290.83 and a 200-day simple moving average of C$265.06.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last released its quarterly earnings results on Thursday, April 30th. The company reported C$4.73 earnings per share for the quarter. Agnico Eagle Mines had a return on equity of 22.08% and a net margin of 39.48%.The firm had revenue of C$5.70 billion during the quarter. Research analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Insider Activity at Agnico Eagle Mines

In related news, insider Guy Gosselin sold 4,947 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the sale, the insider owned 31,381 shares of the company's stock, valued at C$9,728,110. This represents a 13.62% decrease in their ownership of the stock. Insiders own 0.08% of the company's stock.

About Agnico Eagle Mines

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

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