Brokerages Set Agnico Eagle Mines Limited (NYSE:AEM) Price Target at $127.40

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has earned an average rating of “Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $127.40.

Several equities analysts have recently issued reports on AEM shares. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. UBS Group raised their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Royal Bank of Canada lifted their price target on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Finally, Cfra Research upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, April 25th.

Hedge Funds Weigh In On Agnico Eagle Mines

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Agnico Eagle Mines during the 4th quarter valued at $573,446,000. Capital World Investors lifted its holdings in shares of Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock valued at $1,091,550,000 after buying an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after buying an additional 3,155,927 shares in the last quarter. TD Asset Management Inc grew its holdings in Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock worth $978,553,000 after acquiring an additional 2,709,005 shares during the period. Finally, AGF Management Ltd. raised its position in Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after acquiring an additional 905,328 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $116.90 on Friday. Agnico Eagle Mines has a 52 week low of $63.43 and a 52 week high of $126.76. The business’s fifty day simple moving average is $114.77 and its 200-day simple moving average is $99.69. The firm has a market cap of $58.85 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51. 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 posted its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the company posted $0.76 EPS. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. Equities analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 1.36%. Agnico Eagle Mines’s dividend payout ratio is presently 34.04%.

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.