Royal Bank of Canada Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $105.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective increased by Royal Bank of Canada from $96.00 to $105.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the mining company’s stock.

Several other equities research analysts also recently weighed in on AEM. Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.75.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $100.80 on Tuesday. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $101.45. The company has a market capitalization of $50.63 billion, a price-to-earnings ratio of 50.40, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The firm has a 50-day simple moving average of $86.27 and a 200-day simple moving average of $83.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 8.88% and a net margin of 12.86%. On average, equities research analysts anticipate that Agnico Eagle Mines will post 4.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AEM. Versant Capital Management Inc purchased a new position in Agnico Eagle Mines in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in Agnico Eagle Mines by 859.5% in 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. purchased a new position in Agnico Eagle Mines in the fourth quarter valued at about $29,000. FSC Wealth Advisors LLC purchased a new position in Agnico Eagle Mines in the third quarter valued at about $32,000. Finally, Fifth Third Bancorp increased its stake in shares of Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after purchasing an additional 260 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other 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.