Analysts Set Agnico Eagle Mines Limited (NYSE:AEM) Price Target at $78.50

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $81.00.

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Citigroup increased their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. CIBC boosted their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. BMO Capital Markets lowered their price objective on shares of 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. Finally, StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th.

Institutional Trading of Agnico Eagle Mines

Hedge funds have recently made changes to their positions in the stock. Financial Sense Advisors Inc. boosted its stake in Agnico Eagle Mines by 372.3% during the 1st quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock valued at $3,718,000 after acquiring an additional 49,132 shares during the last quarter. Beck Bode LLC bought a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $1,318,000. Campbell & CO Investment Adviser LLC acquired a new position in Agnico Eagle Mines in the fourth quarter worth about $2,297,000. Manning & Napier Advisors LLC bought a new stake in Agnico Eagle Mines in the second quarter valued at about $2,595,000. Finally, FIL Ltd raised its stake in Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after buying an additional 2,831,794 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $80.00 on Monday. The company has a market cap of $40.02 billion, a price-to-earnings ratio of 84.21, a price-to-earnings-growth ratio of 0.77 and a beta of 1.06. Agnico Eagle Mines has a 12 month low of $43.22 and a 12 month high of $80.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.88. The stock’s 50-day moving average is $71.19 and its 200-day moving average is $63.32.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $0.65 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities analysts anticipate that Agnico Eagle Mines will post 3.52 earnings per share for the current 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.