Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $130.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price upped by Raymond James from $105.00 to $130.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the mining company’s stock.

Several other equities research analysts also recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Scotiabank increased their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. TD Securities reduced their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and a consensus target price of $108.00.

Agnico Eagle Mines Stock Down 8.3 %

Shares of NYSE AEM opened at $99.45 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. Agnico Eagle Mines has a 52-week low of $60.15 and a 52-week high of $111.04. The firm has a 50 day moving average price of $99.77 and a 200 day moving average price of $88.76. The stock has a market cap of $50.02 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. Agnico Eagle Mines’s payout ratio is 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds have recently bought and sold shares of the stock. Benjamin Edwards Inc. lifted its stake in Agnico Eagle Mines by 2.0% during the fourth quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company’s stock worth $428,000 after purchasing an additional 106 shares during the last quarter. Duncker Streett & Co. Inc. raised its stake in shares of Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Agnico Eagle Mines by 1.8% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company’s stock worth $543,000 after purchasing an additional 120 shares during the period. Pinnacle Wealth Management Group Inc. grew its stake in shares of Agnico Eagle Mines by 0.5% in the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock worth $1,909,000 after purchasing an additional 125 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Agnico Eagle Mines by 19.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company’s stock valued at $84,000 after purchasing an additional 125 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.