Agnico Eagle Mines Limited (NYSE:AEM) Receives $130.50 Average Target Price from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has received a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $130.50.

AEM has been the topic of several analyst reports. National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Royal Bank Of Canada raised their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Citigroup raised their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets assumed coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 price objective for the company.

Hedge Funds Weigh In On Agnico Eagle Mines

Several large investors have recently bought and sold shares of the stock. Confluence Investment Management LLC lifted its stake in Agnico Eagle Mines by 0.9% during the 2nd quarter. Confluence Investment Management LLC now owns 20,390 shares of the mining company’s stock valued at $2,425,000 after acquiring an additional 172 shares in the last quarter. Harbor Investment Advisory LLC increased its position in shares of Agnico Eagle Mines by 1.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 18,029 shares of the mining company’s stock valued at $2,144,000 after purchasing an additional 257 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Agnico Eagle Mines by 100.3% during the 1st quarter. Voya Investment Management LLC now owns 17,008 shares of the mining company’s stock valued at $1,842,000 after purchasing an additional 8,515 shares during the last quarter. Fruth Investment Management increased its position in shares of Agnico Eagle Mines by 10.3% during the 1st quarter. Fruth Investment Management now owns 6,975 shares of the mining company’s stock valued at $756,000 after purchasing an additional 650 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in shares of Agnico Eagle Mines by 1.1% during the 1st quarter. Advisors Capital Management LLC now owns 113,638 shares of the mining company’s stock valued at $12,320,000 after purchasing an additional 1,242 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $120.12 on Thursday. The business’s 50 day simple moving average is $117.39 and its 200 day simple moving average is $104.34. Agnico Eagle Mines has a one year low of $68.87 and a one year high of $126.76. The stock has a market capitalization of $60.46 billion, a PE ratio of 25.56, a PEG ratio of 0.90 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.37 and a quick ratio of 1.20.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The firm’s revenue was up 34.9% on a year-over-year basis. As a group, research analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio (DPR) 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.