Agnico Eagle Mines Limited (NYSE:AEM) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Agnico Eagle Mines has a “Moderate Buy” consensus rating from 17 analysts, with 13 buys and four holds. The average 12-month price target is $224.38.
• The company reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.80 billion.
• AEM shares opened at $186.08 and were down 0.8%, with institutional investors owning 68.34% of the company.

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM has been assigned a consensus recommendation of "Moderate Buy" from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $224.38.

A number of equities research analysts have weighed in on AEM shares. Weiss Ratings raised shares of Agnico Eagle Mines from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, October 14th. UBS Group lifted their price objective on shares of Agnico Eagle Mines from $170.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Barclays boosted their target price on shares of Agnico Eagle Mines from $188.00 to $218.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Scotia cut their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a research note on Friday, July 3rd.

Agnico Eagle Mines Trading Down 0.8%

Shares of Agnico Eagle Mines stock opened at $186.08 on Wednesday. The business has a fifty day simple moving average of $195.42 and a 200-day simple moving average of $181.42. Agnico Eagle Mines has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The firm has a market cap of $94.33 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company earned $1.94 earnings per share. Agnico Eagle Mines's revenue was up 35.0% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines will post 11.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Uncommon Cents Investing Inc boosted its stake in Agnico Eagle Mines by 4.6% in the 3rd quarter. Uncommon Cents Investing Inc now owns 21,004 shares of the mining company's stock worth $3,849,000 after purchasing an additional 930 shares during the period. Integrated Advisors Network LLC grew its position in Agnico Eagle Mines by 25.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 5,781 shares of the mining company's stock worth $1,059,000 after purchasing an additional 1,156 shares in the last quarter. 55 North Private Wealth LLC purchased a new position in Agnico Eagle Mines during the 3rd quarter worth approximately $221,000. Jeppson Wealth Management LLC raised its stake in Agnico Eagle Mines by 37.3% during the 3rd quarter. Jeppson Wealth Management LLC now owns 3,327 shares of the mining company's stock valued at $610,000 after purchasing an additional 903 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in Agnico Eagle Mines by 11.2% during the 3rd quarter. CWA Asset Management Group LLC now owns 69,753 shares of the mining company's stock valued at $12,784,000 after purchasing an additional 7,045 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited NYSE: AEM is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.

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