Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $94.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective lifted by Scotiabank from $81.00 to $94.00 in a research note released on Monday, Benzinga reports. The firm currently has a sector outperform rating on the mining company’s stock.

Several other brokerages have also issued reports on AEM. CIBC upped their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an outperformer rating in a research note on Wednesday, July 10th. TD Securities upped their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a buy rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a hold rating in a research note on Friday, July 12th. StockNews.com raised shares of Agnico Eagle Mines from a hold rating to a buy rating in a research note on Thursday, June 27th. Finally, Citigroup raised their price objective on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a buy rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of Moderate Buy and a consensus target price of $82.86.

Agnico Eagle Mines Trading Down 1.5 %

Shares of NYSE AEM opened at $81.47 on Monday. Agnico Eagle Mines has a 1-year low of $43.22 and a 1-year high of $82.97. The company has a 50-day moving average of $72.19 and a two-hundred day moving average of $63.90. The company has a market cap of $40.76 billion, a PE ratio of 85.76, a P/E/G ratio of 0.77 and a beta of 1.06. The company has a current ratio of 1.51, a quick ratio of 0.88 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. Agnico Eagle Mines’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. As a group, equities analysts expect that Agnico Eagle Mines will post 3.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AEM. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Agnico Eagle Mines by 2.2% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after purchasing an additional 158 shares during the period. Banque Cantonale Vaudoise raised its stake in Agnico Eagle Mines by 2.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after buying an additional 169 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in Agnico Eagle Mines by 0.3% during the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after acquiring an additional 189 shares in the last quarter. Lombard Odier Asset Management Europe Ltd lifted its holdings in Agnico Eagle Mines by 0.4% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock worth $3,248,000 after acquiring an additional 190 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft grew its stake in Agnico Eagle Mines by 4.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after acquiring an additional 192 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

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.