Jefferies Financial Group Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $66.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price lifted by equities researchers at Jefferies Financial Group from $59.00 to $66.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s price objective indicates a potential downside of 12.08% from the company’s current price.

Other equities research analysts have also issued reports about the stock. CIBC increased their target price on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a report on Wednesday. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, BMO Capital Markets cut their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.22.

Agnico Eagle Mines Trading Up 0.6 %

Shares of Agnico Eagle Mines stock traded up $0.45 during mid-day trading on Friday, hitting $75.07. The stock had a trading volume of 352,252 shares, compared to its average volume of 2,901,810. The firm has a 50-day moving average of $67.24 and a two-hundred day moving average of $58.91. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $75.09. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The firm has a market cap of $37.56 billion, a P/E ratio of 79.02, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. Sell-side analysts forecast that Agnico Eagle Mines will post 3.16 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted 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 valued at $1,264,791,000 after acquiring an additional 1,995,127 shares in the last quarter. FIL Ltd boosted 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 valued at $1,102,481,000 after acquiring an additional 2,831,794 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Agnico Eagle Mines by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock valued at $963,320,000 after purchasing an additional 338,264 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Agnico Eagle Mines by 0.4% in the fourth quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after purchasing an additional 41,068 shares during the period. Finally, Capital World Investors lifted its stake in shares of Agnico Eagle Mines by 0.8% in the first quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock valued at $582,529,000 after purchasing an additional 79,275 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.