Royal Bank of Canada Issues Positive Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective boosted by Royal Bank of Canada from $110.00 to $115.00 in a report issued on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the mining company’s stock.

Several other equities research analysts have also recently weighed in on AEM. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. UBS Group downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and upped their price target for the stock from $100.00 to $110.00 in a report on Monday, March 31st. Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Tuesday, February 4th. TD Securities cut their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and an average price target of $108.00.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $99.45 on Friday. The firm has a 50-day moving average price of $99.77 and a two-hundred day moving average price of $88.76. Agnico Eagle Mines has a 12-month low of $60.15 and a 12-month high of $111.04. The company has a market capitalization 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. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06.

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

Agnico Eagle Mines Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AEM. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its stake in shares of Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth $29,000. Fifth Third Bancorp grew its stake in shares of Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after purchasing an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its holdings in Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 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.