Agnico Eagle Mines (NYSE:AEM) Price Target Increased to $80.00 by Analysts at Citigroup

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target upped by Citigroup from $65.00 to $80.00 in a research report report published on Tuesday, Benzinga reports. They currently have a buy rating on the mining company’s stock.

Several other equities analysts also recently issued reports on AEM. Raymond James upped their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an outperform rating in a report on Friday, January 12th. TD Securities cut their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a buy rating on the stock in a report on Wednesday, February 21st. CIBC cut their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a hold rating in a report on Monday, April 22nd. Finally, National Bank Financial reiterated an outperform overweight rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $69.63.

Agnico Eagle Mines Price Performance

AEM opened at $63.35 on Tuesday. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $67.80. The firm has a market capitalization of $31.59 billion, a PE ratio of 66.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The business’s 50-day moving average is $57.26 and its two-hundred day moving average is $52.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines will post 2.77 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.40 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.60 annualized dividend and a yield of 2.53%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 168.42%.

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds have recently bought and sold shares of the stock. Blair William & Co. IL boosted its position in Agnico Eagle Mines by 5.9% in the 3rd quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock worth $1,078,000 after purchasing an additional 1,313 shares in the last quarter. Raymond James & Associates boosted its position in Agnico Eagle Mines by 15.5% in the 4th quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock worth $19,990,000 after purchasing an additional 48,782 shares in the last quarter. Wellington Management Group LLP boosted its position in Agnico Eagle Mines by 5.7% in the 3rd quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock worth $28,752,000 after purchasing an additional 34,072 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Agnico Eagle Mines in the 4th quarter worth approximately $41,610,000. Finally, Sprott Inc. boosted its position in Agnico Eagle Mines by 4.1% in the 3rd quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock worth $65,249,000 after purchasing an additional 55,032 shares in the last quarter. Hedge funds and other institutional investors 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.