Jefferies Financial Group Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $57.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target hoisted by Jefferies Financial Group from $54.00 to $57.00 in a research report released on Monday, BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the mining company’s stock.

AEM has been the topic of a number of other reports. Raymond James lifted their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an outperform rating in a report on Friday, January 12th. National Bank Financial reissued an outperform overweight rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. TD Securities decreased their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a buy rating for the company in a research note on Wednesday, February 21st. Finally, CIBC decreased their target price on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an outperform rating for the company in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $64.14.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $63.70 on Monday. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $64.19. The company has a market capitalization of $31.76 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. The firm’s 50 day moving average is $56.18 and its 200-day moving average is $52.37.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue was up 26.9% compared to the same quarter last year. Equities research analysts anticipate that Agnico Eagle Mines will post 2.52 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 38.93%.

Institutional Trading of Agnico Eagle Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise grew its holdings in shares of Agnico Eagle Mines by 2.8% during the first quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after purchasing an additional 169 shares during the last quarter. Gulf International Bank UK Ltd boosted its holdings in shares of Agnico Eagle Mines by 4.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after buying an additional 226 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Agnico Eagle Mines by 1.3% during the 3rd quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock worth $827,000 after buying an additional 242 shares in the last quarter. FirstPurpose Wealth LLC boosted its holdings in shares of Agnico Eagle Mines by 3.8% during the 3rd quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock worth $326,000 after buying an additional 260 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in shares of Agnico Eagle Mines by 3.5% during the 3rd quarter. PFG Investments LLC now owns 8,977 shares of the mining company’s stock worth $408,000 after buying an additional 302 shares in the last quarter. 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.