Agnico Eagle Mines (NYSE:AEM) Upgraded at Freedom Broker

Freedom Broker upgraded shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) from a hold rating to a buy rating in a report released on Monday morning, MarketBeat reports. They currently have $212.00 price objective on the mining company’s stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their price target for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Weiss Ratings raised Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $190.00 to $193.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Raymond James Financial reduced their target price on Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 4th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $227.00.

Agnico Eagle Mines Stock Up 9.4%

Shares of NYSE AEM opened at $183.00 on Monday. The company has a current ratio of 2.75, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 12 month low of $134.38 and a 12 month high of $255.24. The firm has a market capitalization of $92.77 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. The firm has a fifty day simple moving average of $189.96 and a two-hundred day simple moving average of $189.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, October 28th. The mining company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.15. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 21.68%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 EPS. Equities analysts expect that Agnico Eagle Mines will post 11.42 earnings per share for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BIP Wealth LLC purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $1,167,000. Engineers Gate Manager LP increased its holdings in shares of Agnico Eagle Mines by 914.3% during the second quarter. Engineers Gate Manager LP now owns 30,246 shares of the mining company’s stock valued at $4,692,000 after acquiring an additional 27,264 shares in the last quarter. Annex Advisory Services LLC boosted its stake in Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock worth $4,500,000 after purchasing an additional 11,995 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at about $6,923,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its position in Agnico Eagle Mines by 12.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company’s stock valued at $16,046,000 after purchasing an additional 11,100 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

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.