Agnico Eagle Mines Limited (NYSE:AEM) Given Average Recommendation of “Moderate Buy” by Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $86.78.

Several equities research analysts have issued reports on AEM shares. TD Securities increased their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. CIBC upped their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, UBS Group initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company.

Agnico Eagle Mines Stock Down 1.1 %

Shares of NYSE AEM opened at $86.92 on Friday. Agnico Eagle Mines has a 52-week low of $44.37 and a 52-week high of $89.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The stock has a market cap of $43.48 billion, a P/E ratio of 91.49, a P/E/G ratio of 0.71 and a beta of 1.10. The firm has a 50 day moving average price of $81.78 and a 200 day moving average price of $73.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. Analysts expect that Agnico Eagle Mines will post 3.88 EPS for the current year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its holdings in Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $32,000. Abich Financial Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $32,000. Stephens Consulting LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at approximately $30,000. Finally, McClarren Financial Advisors Inc. grew its stake in shares of Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after buying an additional 445 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Company Profile

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.