Agnico Eagle Mines Limited (NYSE:AEM) Given Consensus Rating of “Buy” by Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has received an average recommendation of “Buy” from the seventeen research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and six have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $167.90.

Several brokerages have recently weighed in on AEM. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Raymond James Financial raised their target price on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. CIBC lifted their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. National Bankshares restated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Agnico Eagle Mines in a research report on Wednesday, October 8th.

Agnico Eagle Mines Price Performance

AEM stock opened at $178.81 on Friday. The stock has a 50-day moving average price of $151.98 and a two-hundred day moving average price of $129.60. Agnico Eagle Mines has a 1 year low of $75.17 and a 1 year high of $179.20. The stock has a market cap of $89.91 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.Agnico Eagle Mines’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC lifted its stake in Agnico Eagle Mines by 2.4% in the third quarter. CWM LLC now owns 6,573 shares of the mining company’s stock valued at $1,108,000 after acquiring an additional 155 shares during the last quarter. Canoe Financial LP raised its holdings in shares of Agnico Eagle Mines by 19.5% in the 3rd quarter. Canoe Financial LP now owns 1,129,144 shares of the mining company’s stock valued at $190,140,000 after purchasing an additional 184,177 shares during the period. Blue Zone Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter worth about $307,000. Pure Portfolios Holdings LLC grew its holdings in Agnico Eagle Mines by 1.6% during the third quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock worth $637,000 after purchasing an additional 60 shares during the period. Finally, World Investment Advisors increased its position in Agnico Eagle Mines by 15.1% during the third quarter. World Investment Advisors now owns 4,379 shares of the mining company’s stock worth $738,000 after buying an additional 575 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

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.