UBS Group Begins Coverage on Agnico Eagle Mines (NYSE:AEM)

UBS Group initiated coverage on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $95.00 target price on the mining company’s stock.

A number of other research firms have also recently commented on AEM. Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a hold rating in a research report on Friday, July 12th. StockNews.com raised shares of Agnico Eagle Mines from a hold rating to a buy rating in a research report on Thursday, June 27th. Royal Bank of Canada lifted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an outperform rating in a research report on Tuesday, September 10th. TD Securities boosted their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Finally, Scotiabank raised their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a sector outperform rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $84.67.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $83.13 on Tuesday. The firm’s fifty day simple moving average is $78.01 and its 200 day simple moving average is $68.62. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a twelve month low of $43.22 and a twelve month high of $84.65. The firm has a market capitalization of $41.59 billion, a price-to-earnings ratio of 87.51, a PEG ratio of 0.77 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, equities research analysts expect that Agnico Eagle Mines will post 3.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently modified their holdings of the company. SCP Investment LP bought a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $292,000. Principal Securities Inc. bought a new stake in Agnico Eagle Mines during the 4th quarter valued at $119,000. Vanguard Personalized Indexing Management LLC boosted its position in Agnico Eagle Mines by 36.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,437 shares of the mining company’s stock worth $463,000 after acquiring an additional 2,259 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Agnico Eagle Mines by 122.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 56,358 shares of the mining company’s stock worth $3,091,000 after purchasing an additional 31,041 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $325,327,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.