UBS Group Downgrades Agnico Eagle Mines (NYSE:AEM) to Neutral

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $110.00 price target on the mining company’s stock, up from their prior price target of $100.00. UBS Group’s target price would suggest a potential upside of 1.72% from the company’s current price.

AEM has been the subject of several other reports. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. TD Securities lowered their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Tuesday, February 4th. Finally, Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $104.11.

Agnico Eagle Mines Stock Performance

AEM opened at $108.14 on Monday. The stock has a market cap of $54.40 billion, a P/E ratio of 28.61, a P/E/G ratio of 0.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The firm has a fifty day moving average price of $98.82 and a 200 day moving average price of $88.27. Agnico Eagle Mines has a 1 year low of $60.15 and a 1 year high of $110.36.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Equities research analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several large investors have recently made changes to their positions in AEM. Norges Bank acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $573,446,000. Capital World Investors boosted its position in shares of Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after buying an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after buying an additional 3,155,927 shares during the period. AGF Management Ltd. grew its stake in shares of Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after buying an additional 905,328 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after buying an additional 778,919 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.