Agnico Eagle Mines (NYSE:AEM) Stock Keeps “Hold” Rating at Freedom Broker

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM)‘s stock had its “hold” rating reaffirmed by stock analysts at Freedom Broker in a research note issued on Thursday, Benzinga reports. They currently have a $212.00 price objective on the mining company’s stock, down from their prior price objective of $255.00. Freedom Broker‘s target price would indicate a potential upside of 20.35% from the company’s previous close.

AEM has been the topic of several other research reports. Citigroup cut their price target on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $179.00 to $190.00 and gave the stock a “neutral” rating in a research report on Wednesday. Weiss Ratings raised Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 14th. Zacks Research upgraded shares of Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Finally, RBC Dominion Securities set a $225.00 price target on shares of Agnico Eagle Mines and gave the stock a “sector perform” rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average price target of $224.33.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded down $11.20 on Thursday, reaching $176.16. The company’s stock had a trading volume of 1,952,315 shares, compared to its average volume of 2,629,919. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company has a market cap of $89.30 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 2.75 and a beta of 0.64. The business’s fifty day moving average price is $195.46 and its 200 day moving average price is $181.27. Agnico Eagle Mines has a twelve month low of $134.38 and a twelve month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.89 by $0.16. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. Agnico Eagle Mines’s revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 earnings per share. Equities analysts expect that Agnico Eagle Mines will post 11.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC boosted its holdings in Agnico Eagle Mines by 600.0% during the third quarter. Fortitude Family Office LLC now owns 140 shares of the mining company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Markowski Investments acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $29,000. Sawyer & Company Inc acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth about $35,000. Dunhill Financial LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at about $31,000. Finally, Fiduciary Financial Advisors bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds 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.