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

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned an average recommendation of “Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $130.50.

A number of analysts have weighed in on AEM shares. Citigroup upped their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, March 31st. National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Raymond James Financial raised Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price target on the stock in a research report on Monday, June 30th. National Bankshares reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Finally, Bank of America upped their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd.

Agnico Eagle Mines Stock Up 1.8%

Shares of NYSE:AEM opened at $122.18 on Thursday. Agnico Eagle Mines has a 1 year low of $68.87 and a 1 year high of $126.76. The business has a 50 day simple moving average of $117.45 and a two-hundred day simple moving average of $104.83. The firm has a market capitalization of $61.50 billion, a PE ratio of 26.00, a price-to-earnings-growth 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 quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.27 billion. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. Agnico Eagle Mines’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, equities analysts predict that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.40 dividend. This represents a yield of 1.36%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio is presently 34.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock valued at $1,554,180,000 after purchasing an additional 331,087 shares in the last quarter. Capital World Investors grew its position 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 purchasing an additional 4,121,164 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Agnico Eagle Mines by 3.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock valued at $1,457,160,000 after purchasing an additional 499,362 shares in the last quarter. Deutsche Bank AG grew its position in shares of Agnico Eagle Mines by 0.7% in the fourth quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company’s stock valued at $932,008,000 after purchasing an additional 87,410 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 42.8% in the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after purchasing an additional 2,709,005 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other 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.