Agnico Eagle Mines (TSE:AEM) Price Target Raised to C$350.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its target price raised by investment analysts at Stifel Nicolaus from C$300.00 to C$350.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 22.40% from the stock’s current price.

AEM has been the topic of a number of other reports. National Bankshares boosted their target price on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. set a C$337.00 price objective on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada downgraded Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$278.00.

Agnico Eagle Mines Price Performance

AEM stock traded up C$1.52 during midday trading on Tuesday, reaching C$285.94. 476,653 shares of the stock were exchanged, compared to its average volume of 1,108,509. Agnico Eagle Mines has a 52 week low of C$132.96 and a 52 week high of C$305.68. The company has a fifty day moving average price of C$256.35 and a 200 day moving average price of C$229.55. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89. The stock has a market capitalization of C$143.56 billion, a PE ratio of 41.80, a P/E/G ratio of 22.97 and a beta of 1.54.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$3.01 earnings per share for the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%.The company had revenue of C$4.26 billion for the quarter. As a group, analysts expect that Agnico Eagle Mines will post 5.4966052 EPS for the current fiscal year.

Insider Buying and Selling

In other Agnico Eagle Mines news, insider Ammar Al-Joundi sold 20,000 shares of Agnico Eagle Mines stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the completion of the sale, the insider directly owned 54,917 shares in the company, valued at approximately C$13,366,797.80. The trade was a 26.70% decrease in their ownership of the stock. Also, insider James Porter sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total value of C$742,260.00. Following the completion of the transaction, the insider directly owned 7,734 shares in the company, valued at approximately C$1,913,546.28. This trade represents a 27.95% decrease in their ownership of the stock. Insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.