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

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a report issued on Monday,Finviz reports. They presently 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 2.48% from the stock’s current price.

Other research analysts have also issued reports about the company. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Finally, Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus price target of $97.44.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $107.34 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. Agnico Eagle Mines has a one year low of $60.15 and a one year high of $110.36. The company has a fifty day moving average price of $97.96 and a 200 day moving average price of $87.91. The stock has a market cap of $53.99 billion, a P/E ratio of 28.40, a PEG ratio of 0.66 and a beta of 1.00.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Van ECK Associates Corp increased its stake in shares of Agnico Eagle Mines by 3.6% in the fourth 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. Vanguard Group Inc. raised its stake in shares of Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock valued at $1,554,180,000 after acquiring an additional 331,087 shares during the last quarter. Capital World Investors lifted its holdings 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 purchasing an additional 4,121,164 shares during the period. Deutsche Bank AG grew its stake in shares of Agnico Eagle Mines by 0.7% in the fourth quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company’s stock worth $932,008,000 after purchasing an additional 87,410 shares during the last quarter. Finally, Norges Bank acquired a new position in Agnico Eagle Mines during the 4th quarter worth about $573,446,000. 68.34% of the stock is currently owned by institutional investors.

About Agnico Eagle Mines

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.