Agnico Eagle Mines (NYSE:AEM) Hits New 52-Week High at $71.67

Shares of Agnico Eagle Mines Limited (NYSE:AEMGet Free Report) (TSE:AEM) hit a new 52-week high during trading on Wednesday . The stock traded as high as $71.67 and last traded at $71.53, with a volume of 111496 shares. The stock had previously closed at $70.20.

Wall Street Analyst Weigh In

AEM has been the topic of several research analyst reports. TD Securities boosted their price target on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $58.00 to $59.00 and gave the stock a “hold” rating in a research note on Thursday, June 20th. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Citigroup upped their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Scotiabank upped their target price on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.22.

Check Out Our Latest Stock Analysis on Agnico Eagle Mines

Agnico Eagle Mines Price Performance

The stock’s 50 day simple moving average is $66.87 and its 200 day simple moving average is $58.70. The firm has a market capitalization of $36.06 billion, a P/E ratio of 75.26, a P/E/G ratio of 0.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The company’s revenue was up 21.2% compared to the same quarter last year. As a group, analysts expect that Agnico Eagle Mines Limited will post 3.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of AEM. Norges Bank purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at approximately $325,327,000. FIL Ltd raised its holdings in shares of Agnico Eagle Mines by 16.4% in the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after buying an additional 2,831,794 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth $132,257,000. Van ECK Associates Corp raised its holdings in shares of Agnico Eagle Mines by 9.5% in the fourth quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after buying an additional 1,995,127 shares during the last quarter. Finally, Capital Wealth Planning LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth $88,547,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

(Get Free Report)

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.

Further Reading

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