Agnico Eagle Mines (NYSE:AEM) Reaches New 52-Week High – Should You Buy?

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) reached a new 52-week high on Tuesday . The stock traded as high as $101.45 and last traded at $100.46, with a volume of 2388226 shares. The stock had previously closed at $98.35.

Wall Street Analyst Weigh In

Several research firms have commented on AEM. Scotiabank raised their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.50.

Agnico Eagle Mines Trading Up 2.1 %

The firm has a market capitalization of $50.46 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $85.42 and its 200 day moving average is $82.60.

Institutional Investors Weigh In On Agnico Eagle Mines

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC lifted its stake in Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $29,000. FSC Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the third quarter worth approximately $32,000. Finally, Fifth Third Bancorp raised its holdings in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares during the period. 68.34% of the stock is 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.