TD Securities Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $78.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target boosted by stock analysts at TD Securities from $74.00 to $78.00 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the mining company’s stock. TD Securities’ price objective would indicate a potential upside of 21.42% from the company’s previous close.

Several other brokerages also recently issued reports on AEM. Raymond James upped their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, January 12th. CIBC raised their price target on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup increased their price objective on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock 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 research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.63.

Agnico Eagle Mines Trading Up 1.4 %

NYSE AEM opened at $64.24 on Tuesday. The stock’s 50 day moving average is $57.55 and its 200 day moving average is $52.90. The firm has a market capitalization of $32.03 billion, a PE ratio of 67.62, a P/E/G ratio of 0.88 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. Agnico Eagle Mines has a twelve month low of $43.22 and a twelve month high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company 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 business posted $0.57 EPS. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. Research analysts forecast that Agnico Eagle Mines will post 2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds have recently made changes to their positions in AEM. Stephens Consulting LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter worth about $30,000. Bruce G. Allen Investments LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at approximately $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $34,000. CVA Family Office LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth approximately $36,000. Finally, Janiczek Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

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.