Agnico Eagle Mines Limited (NYSE:AEM) Receives $201.60 Consensus Price Target from Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been given an average recommendation of “Buy” by the seventeen brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and six have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $201.60.

A number of equities research analysts recently commented on AEM shares. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Citigroup upped their price target on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 30th. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Agnico Eagle Mines in a report on Monday, December 22nd.

Agnico Eagle Mines Stock Up 1.1%

Shares of NYSE:AEM opened at $183.32 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The stock has a market cap of $91.98 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 0.67 and a beta of 0.64. The company has a 50 day moving average of $167.56 and a 200-day moving average of $149.36. Agnico Eagle Mines has a one year low of $76.91 and a one year high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same period last year, the firm earned $1.14 earnings per share. On average, sell-side analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of large investors have recently made changes to their positions in the company. Norges Bank bought a new position in Agnico Eagle Mines during the second quarter worth about $938,644,000. Capital World Investors raised its position in shares of Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Agnico Eagle Mines by 38.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after purchasing an additional 2,319,131 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Agnico Eagle Mines by 48.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after purchasing an additional 1,474,385 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Agnico Eagle Mines by 53.1% in the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after purchasing an additional 1,444,746 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.