TD Securities Has Lowered Expectations for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price cut by equities researchers at TD Securities from $108.00 to $106.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the mining company’s stock. TD Securities’ price objective points to a potential upside of 8.09% from the company’s current price.

A number of other analysts have also issued reports on AEM. Scotiabank lifted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. StockNews.com raised Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Monday. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Finally, Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $94.63.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM traded up $0.75 during midday trading on Wednesday, reaching $98.07. 1,823,875 shares of the company were exchanged, compared to its average volume of 2,128,462. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $86.99 and a 200 day simple moving average of $83.56. The stock has a market cap of $49.32 billion, a P/E ratio of 25.95, a PEG ratio of 0.64 and a beta of 1.10. Agnico Eagle Mines has a 1 year low of $47.73 and a 1 year high of $101.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. On average, research analysts forecast that Agnico Eagle Mines will post 4.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently modified their holdings of AEM. Creative Planning lifted its stake in shares of Agnico Eagle Mines by 28.7% in the 3rd quarter. Creative Planning now owns 37,876 shares of the mining company’s stock valued at $3,051,000 after purchasing an additional 8,456 shares during the period. Blue Trust Inc. boosted its holdings in Agnico Eagle Mines by 124.2% during the third quarter. Blue Trust Inc. now owns 3,663 shares of the mining company’s stock worth $295,000 after buying an additional 2,029 shares during the last quarter. OLD National Bancorp IN acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth about $232,000. Foundations Investment Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $209,000. Finally, Signaturefd LLC boosted its stake in Agnico Eagle Mines by 4.1% during the 3rd quarter. Signaturefd LLC now owns 9,227 shares of the mining company’s stock worth $743,000 after acquiring an additional 367 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

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.