Agnico Eagle Mines Limited (NYSE:AEM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $86.78.

Several brokerages recently weighed in on AEM. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, UBS Group began coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective for the company.

Agnico Eagle Mines Price Performance

AEM opened at $78.16 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines has a 1-year low of $44.37 and a 1-year high of $89.00. The company has a 50-day moving average of $83.46 and a 200-day moving average of $78.02. The company has a market capitalization of $39.23 billion, a P/E ratio of 39.08, a PEG ratio of 0.68 and a beta of 1.07.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bridgewater Associates LP increased its holdings in shares of Agnico Eagle Mines by 123.2% in the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock worth $16,448,000 after acquiring an additional 112,712 shares during the period. Charles Schwab Investment Management Inc. grew its position in Agnico Eagle Mines by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after purchasing an additional 32,991 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Agnico Eagle Mines by 14.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after purchasing an additional 29,106 shares during the period. Mirabella Financial Services LLP acquired a new stake in shares of Agnico Eagle Mines in the third quarter valued at approximately $655,000. Finally, Citigroup Inc. raised its holdings in shares of Agnico Eagle Mines by 84.4% during the third quarter. Citigroup Inc. now owns 182,142 shares of the mining company’s stock valued at $14,689,000 after buying an additional 83,387 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.