Agnico Eagle Mines Limited (NYSE:AEM) Stock Has Average Target Price of $227.15 According to Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been given an average rating of “Moderate Buy” by the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $227.15.

Several research firms have recently weighed in on AEM. Bank of America cut their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised their target price on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. UBS Group cut their price target on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Finally, Scotia reduced their price target 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.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $183.40 on Friday. The company has a market capitalization of $92.97 billion, a PE ratio of 15.69, a PEG ratio of 2.33 and a beta of 0.67. Agnico Eagle Mines has a 12 month low of $134.38 and a 12 month high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $187.51 and its 200 day simple moving average is $182.42.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the firm earned $1.94 earnings per share. The company’s revenue was up 35.0% on a year-over-year basis. On average, research analysts predict that Agnico Eagle Mines will post 11.46 EPS for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors increased its holdings in Agnico Eagle Mines by 2.8% during the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after purchasing an additional 572,473 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after purchasing an additional 3,062,705 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock valued at $1,641,239,000 after purchasing an additional 165,263 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Agnico Eagle Mines by 0.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,629,935 shares of the mining company’s stock worth $1,463,166,000 after buying an additional 40,190 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Agnico Eagle Mines by 4.2% during the fourth quarter. Deutsche Bank AG now owns 8,570,961 shares of the mining company’s stock worth $1,453,035,000 after buying an additional 345,362 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.