Agnico Eagle Mines (TSE:AEM) Stock Rating Upgraded by Freedom Broker

Key Points

• Freedom Broker upgraded Agnico Eagle Mines from “hold” to “strong buy,” following a similar upgrade by Jefferies.
• Analyst sentiment remains positive overall: three analysts rate the stock “strong buy,” five rate it “buy,” and three rate it “hold,” with a consensus price target of C$292.
• Agnico Eagle reported quarterly revenue of C$5.10 billion and EPS of C$3.72, while shares opened at C$238.41 and remained below their 50-day and 200-day moving averages.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM was upgraded by stock analysts at Freedom Broker from a "hold" rating to a "strong-buy" rating in a report released on Monday, Zacks reports.

AEM has been the subject of several other research reports. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Barclays dropped their target price on Agnico Eagle Mines from C$298.00 to C$266.00 in a report on Thursday, July 16th. Stifel Nicolaus reduced their price target on Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th. TD decreased their price target on Agnico Eagle Mines from C$244.00 to C$242.00 and set a "buy" rating for the company in a research note on Tuesday, October 20th. Finally, National Bank Financial decreased their price target on Agnico Eagle Mines from C$310.00 to C$305.00 and set an "outperform" rating for the company in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$292.00.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at C$238.41 on Monday. The stock has a market capitalization of C$119.44 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 22.97 and a beta of 2.00. Agnico Eagle Mines has a 12 month low of C$188.48 and a 12 month high of C$348.94. The firm has a fifty day simple moving average of C$269.07 and a 200 day simple moving average of C$262.68. The company has a current ratio of 2.75, a quick ratio of 0.89 and a debt-to-equity ratio of 1.11.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last issued its quarterly earnings results on Wednesday, October 28th. The company reported C$3.72 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 41.00% and a return on equity of 22.64%. The firm had revenue of C$5.10 billion for the quarter. Research analysts forecast that Agnico Eagle Mines will post 5.50 EPS for the current fiscal year.

Insider Buying and Selling at Agnico Eagle Mines

In other news, Director John Merfyn Roberts sold 1,500 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of C$273.35, for a total value of C$410,025.00. Following the sale, the director directly owned 16,182 shares of the company's stock, valued at approximately C$4,423,349.70. This represents a 8.48% decrease in their position. 0.08% of the stock is owned by corporate insiders.

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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