Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $105.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price upped by analysts at Royal Bank of Canada from $96.00 to $105.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.99% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Scotiabank increased their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.75.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded down $1.44 during midday trading on Tuesday, reaching $99.07. 1,156,323 shares of the company were exchanged, compared to its average volume of 1,887,236. The stock has a market cap of $49.76 billion, a PE ratio of 49.53, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The business’s fifty day moving average is $85.42 and its two-hundred day moving average is $82.60. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a one year low of $44.37 and a one year high of $101.45.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its holdings in Agnico Eagle Mines by 138.5% in the 3rd quarter. Ritholtz Wealth Management now owns 8,072 shares of the mining company’s stock valued at $650,000 after buying an additional 4,687 shares during the period. Sapient Capital LLC boosted its holdings in Agnico Eagle Mines by 1.3% in the 3rd quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock worth $886,000 after acquiring an additional 145 shares during the period. Creative Planning boosted its holdings in Agnico Eagle Mines by 28.7% in the 3rd quarter. Creative Planning now owns 37,876 shares of the mining company’s stock worth $3,051,000 after acquiring an additional 8,456 shares during the period. Generate Investment Management Ltd boosted its holdings in Agnico Eagle Mines by 57.0% in the 3rd quarter. Generate Investment Management Ltd now owns 311,818 shares of the mining company’s stock worth $25,120,000 after acquiring an additional 113,178 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Agnico Eagle Mines by 124.2% in the 3rd quarter. Blue Trust Inc. now owns 3,663 shares of the mining company’s stock worth $295,000 after acquiring an additional 2,029 shares during the period. Institutional investors and hedge funds 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.