Agnico Eagle Mines Limited (NYSE:AEM) Receives $127.40 Consensus PT from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has earned an average recommendation of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $127.40.

AEM has been the topic of a number of research reports. Cfra Research raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, April 25th. Bank of America increased their price target on Agnico Eagle Mines from $119.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 8th. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Citigroup increased their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Finally, UBS Group boosted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. MJT & Associates Financial Advisory Group Inc. acquired a new position in Agnico Eagle Mines in the first quarter worth about $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Agnico Eagle Mines in the 1st quarter worth approximately $26,000. Private Trust Co. NA increased its holdings in shares of Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock valued at $31,000 after acquiring an additional 232 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at approximately $34,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $122.04 on Friday. The company has a market cap of $61.44 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51. Agnico Eagle Mines has a 12 month low of $63.43 and a 12 month high of $126.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The stock’s 50-day moving average is $115.61 and its 200-day moving average is $100.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the firm posted $0.76 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 34.9% compared to the same quarter last year. Equities analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 1.36%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 34.04%.

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.