Agnico Eagle Mines Limited (NYSE:AEM) Receives $84.67 Average Price Target from Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $86.78.

Several analysts have issued reports on the stock. StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. TD Securities upped their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BMO Capital Markets dropped their price target on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. CIBC upped their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, UBS Group started coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company.

Hedge Funds Weigh In On Agnico Eagle Mines

Large investors have recently bought and sold shares of the stock. Continuum Advisory LLC raised its holdings in shares of Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares during the period. Stephens Consulting LLC purchased a new position in Agnico Eagle Mines in the first quarter valued at approximately $30,000. Abich Financial Wealth Management LLC acquired a new position in Agnico Eagle Mines during the second quarter valued at approximately $32,000. Janiczek Wealth Management LLC grew its stake in Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $78.82 on Tuesday. The business has a 50 day moving average price of $79.62 and a 200 day moving average price of $70.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The company has a market capitalization of $39.43 billion, a P/E ratio of 82.97, a PEG ratio of 0.78 and a beta of 1.10. Agnico Eagle Mines has a 1-year low of $43.29 and a 1-year high of $85.14.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts expect that Agnico Eagle Mines will post 3.73 EPS for the current fiscal year.

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.