Agnico Eagle Mines Limited (NYSE:AEM) Given Consensus Rating of “Buy” by Brokerages

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $124.40.

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $181.00 target price for the company. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. UBS Group boosted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Finally, Bank of America raised their price objective on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its holdings in shares of Agnico Eagle Mines by 29.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,807 shares of the mining company’s stock valued at $413,000 after acquiring an additional 856 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the first quarter valued at about $34,000. Bessemer Group Inc. grew its holdings in shares of Agnico Eagle Mines by 901.9% during the first quarter. Bessemer Group Inc. now owns 39,096 shares of the mining company’s stock worth $4,240,000 after purchasing an additional 35,194 shares during the last quarter. Spire Wealth Management increased its stake in shares of Agnico Eagle Mines by 109.4% in the first quarter. Spire Wealth Management now owns 13,444 shares of the mining company’s stock valued at $1,457,000 after buying an additional 7,024 shares during the period. Finally, Golden State Equity Partners boosted its position in Agnico Eagle Mines by 11.7% during the 1st quarter. Golden State Equity Partners now owns 3,016 shares of the mining company’s stock worth $327,000 after buying an additional 317 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $118.30 on Friday. Agnico Eagle Mines has a 52-week low of $62.55 and a 52-week high of $126.76. The stock has a market cap of $59.53 billion, a PE ratio of 31.30, a P/E/G ratio of 0.66 and a beta of 0.87. The firm has a 50-day moving average of $105.18 and a 200-day moving average of $91.92. 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 (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS 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%. On average, sell-side analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is 42.33%.

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.