Brokerages Set Agnico Eagle Mines Limited (NYSE:AEM) Price Target at $75.22

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received an average rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $75.22.

AEM has been the topic of several research reports. Citigroup upped their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. TD Securities increased their price target on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. BMO Capital Markets cut their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $74.76 on Thursday. The company has a market capitalization of $37.39 billion, a PE ratio of 78.69, a P/E/G ratio of 0.79 and a beta of 1.06. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $77.04. The company has a 50-day simple moving average of $68.41 and a 200-day simple moving average of $59.99. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. Equities research analysts predict that Agnico Eagle Mines will post 3.33 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 made changes to their positions in the business. Raymond James & Associates grew its holdings in Agnico Eagle Mines by 15.5% in the 4th quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after buying an additional 48,782 shares during the period. Financial Sense Advisors Inc. increased its position in Agnico Eagle Mines by 372.3% during the first quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock worth $3,718,000 after purchasing an additional 49,132 shares during the last quarter. Beck Bode LLC purchased a new position in Agnico Eagle Mines during the fourth quarter worth approximately $1,318,000. Wellington Management Group LLP boosted its holdings in shares of Agnico Eagle Mines by 5.7% in the 3rd quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after purchasing an additional 34,072 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $2,297,000. 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.