Agnico Eagle Mines (NYSE:AEM) Given New $115.00 Price Target at Royal Bank of Canada

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective upped by equities researchers at Royal Bank of Canada from $110.00 to $115.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the mining company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 13.23% from the company’s current price.

A number of other research firms also recently commented on AEM. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Citigroup lifted their price target on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a research report on Monday. TD Securities dropped their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Scotiabank raised their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $105.22.

Agnico Eagle Mines Trading Down 6.4 %

Agnico Eagle Mines stock traded down $6.93 during trading on Friday, reaching $101.57. The company had a trading volume of 1,060,614 shares, compared to its average volume of 2,353,458. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The firm has a market capitalization of $51.09 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines has a 12-month low of $60.15 and a 12-month high of $111.04. The stock’s 50 day moving average price is $99.58 and its two-hundred day moving average price is $88.55.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, equities analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors increased its holdings in Agnico Eagle Mines by 7.0% during the 3rd quarter. Captrust Financial Advisors now owns 5,316 shares of the mining company’s stock worth $428,000 after purchasing an additional 349 shares during the last quarter. Verition Fund Management LLC bought a new position in Agnico Eagle Mines during the 3rd quarter valued at $333,000. Benjamin Edwards Inc. acquired a new position in Agnico Eagle Mines during the 3rd quarter worth $432,000. Hilltop Holdings Inc. increased its position in shares of Agnico Eagle Mines by 42.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 7,042 shares of the mining company’s stock worth $567,000 after purchasing an additional 2,102 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Agnico Eagle Mines by 10.8% during the third quarter. HighTower Advisors LLC now owns 50,066 shares of the mining company’s stock worth $4,035,000 after purchasing an additional 4,865 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.