StockNews.com Begins Coverage on Agnico Eagle Mines (NYSE:AEM)

Posted by on May 18th, 2023

Investment analysts at StockNews.com started coverage on shares of Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) in a research report issued on Thursday. The brokerage set a “hold” rating on the mining company’s stock.

A number of other brokerages have also commented on AEM. BMO Capital Markets started coverage on Agnico Eagle Mines in a report on Monday, April 3rd. They set an “outperform” rating on the stock. TheStreet upgraded shares of Agnico Eagle Mines from a “c+” rating to a “b-” rating in a report on Wednesday, January 25th. Raymond James raised their price objective on shares of Agnico Eagle Mines from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, January 31st. TD Securities decreased their price objective on shares of Agnico Eagle Mines from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, February 17th. Finally, Barclays raised their price objective on shares of Agnico Eagle Mines from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average target price of $70.63.

Agnico Eagle Mines Stock Down 1.4 %

Agnico Eagle Mines stock opened at $55.11 on Thursday. Agnico Eagle Mines has a fifty-two week low of $36.69 and a fifty-two week high of $61.15. The stock has a market cap of $27.23 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 25.16 and a beta of 0.80. The firm’s 50-day simple moving average is $54.56 and its 200 day simple moving average is $52.03. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.07 and a current ratio of 2.32.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last released its quarterly earnings results on Friday, February 17th. The mining company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Agnico Eagle Mines had a net margin of 40.12% and a return on equity of 6.07%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 45.5% compared to the same quarter last year. Research analysts predict that Agnico Eagle Mines will post 2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quilter Plc bought a new stake in Agnico Eagle Mines during the 1st quarter valued at $204,981,000. Coppell Advisory Solutions Corp. purchased a new position in Agnico Eagle Mines during the 4th quarter valued at about $26,000. Lindbrook Capital LLC grew its holdings in Agnico Eagle Mines by 61.6% during the 4th quarter. Lindbrook Capital LLC now owns 514 shares of the mining company’s stock valued at $27,000 after buying an additional 196 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Agnico Eagle Mines during the 1st quarter valued at about $30,000. Finally, Ronald Blue Trust Inc. grew its holdings in Agnico Eagle Mines by 72.7% during the 4th quarter. Ronald Blue Trust Inc. now owns 708 shares of the mining company’s stock valued at $30,000 after buying an additional 298 shares in the last quarter. Institutional investors own 58.11% of the company’s stock.

About Agnico Eagle Mines

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Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine.

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