Scotiabank Issues Positive Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective lifted by Scotiabank from $103.00 to $105.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the mining company’s stock.

Separately, Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.

Agnico Eagle Mines Trading Down 0.6 %

Agnico Eagle Mines stock opened at $88.67 on Tuesday. The firm has a 50 day simple moving average of $82.56 and a 200-day simple moving average of $80.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The stock has a market capitalization of $44.53 billion, a PE ratio of 44.33, a price-to-earnings-growth ratio of 0.59 and a beta of 1.08. Agnico Eagle Mines has a 12-month low of $44.37 and a 12-month high of $90.49.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AEM. Versant Capital Management Inc acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth $26,000. Decker Retirement Planning Inc. acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth $29,000. Abich Financial Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth $32,000. FSC Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth $32,000. Finally, Fifth Third Bancorp increased its stake in shares of Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after purchasing an additional 260 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.