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

Key Points

• Erste Group Bank upgraded Agnico Eagle Mines (TSE:AEM) from a "hold" to a "strong-buy", contributing to a consensus analyst rating of "Buy" and a consensus target price of C$314.50.
• AEM reported last-quarter EPS of C$3.71 on C$4.89 billion in revenue, has a market cap of C$151.59 billion and a P/E of 34.2, and insiders have modestly reduced holdings (insiders now own 0.08%).

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

AEM has been the subject of several other research reports. Stifel Nicolaus boosted their price target on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. TD Securities lifted their price target on 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. JPMorgan Chase & Co. set a C$337.00 target price on shares of Agnico Eagle Mines and gave the company a "neutral" rating in a report on Thursday, January 29th. National Bank Financial increased their price target on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada lowered Agnico Eagle Mines from a "moderate buy" rating to a "hold" rating in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$314.50.

Agnico Eagle Mines Price Performance

Shares of AEM opened at C$303.00 on Thursday. The firm's 50 day moving average price is C$283.70 and its 200 day moving average price is C$245.44. The company has a market cap of C$151.59 billion, a P/E ratio of 34.20, a PEG ratio of 22.97 and a beta of 1.67. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 1.68. Agnico Eagle Mines has a fifty-two week low of C$135.40 and a fifty-two week high of C$348.94.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last posted its quarterly earnings data on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. The business had revenue of C$4.89 billion for the quarter. Agnico Eagle Mines had a return on equity of 19.37% and a net margin of 37.50%. On average, research analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Insider Activity at Agnico Eagle Mines

In related news, insider James Porter sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total value of C$742,260.00. Following the sale, the insider owned 7,734 shares of the company's stock, valued at approximately C$1,913,546.28. This represents a 27.95% decrease in their position. Also, insider Guy Gosselin sold 4,947 shares of the firm's stock in a transaction dated 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 directly owned 31,381 shares in the company, 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

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.

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