Agnico Eagle Mines (NYSE:AEM) Given New $200.00 Price Target at Citigroup

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price cut by analysts at Citigroup from $256.00 to $200.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. Citigroup’s price objective would indicate a potential upside of 37.92% from the company’s current price.

A number of other equities analysts have also weighed in on AEM. UBS Group decreased their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Scotia reduced their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Royal Bank Of Canada decreased their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. TD increased their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.69.

Agnico Eagle Mines Trading Down 0.1%

NYSE:AEM traded down $0.12 during midday trading on Monday, reaching $145.01. 1,189,750 shares of the stock traded hands, compared to its average volume of 2,687,021. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. Agnico Eagle Mines has a 12 month low of $122.32 and a 12 month high of $255.24. The stock has a market capitalization of $73.60 billion, a P/E ratio of 13.62, a PEG ratio of 2.21 and a beta of 0.60. The company has a fifty day moving average of $160.44 and a 200 day moving average of $190.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the firm earned $1.53 EPS. The company’s quarterly revenue was up 66.1% compared to the same quarter last year. On average, research analysts predict that Agnico Eagle Mines will post 11.83 EPS for the current year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after purchasing an additional 331 shares during the period. AQR Capital Management LLC boosted its stake in Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after purchasing an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after purchasing an additional 1,160 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after acquiring an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Agnico Eagle Mines by 25.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after buying an additional 187 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.