Agnico Eagle Mines (NYSE:AEM) Now Covered by BMO Capital Markets

BMO Capital Markets began coverage on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a research report issued on Wednesday. The firm set an “outperform” rating and a $181.00 price target on the mining company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 44.19% from the stock’s current price.

A number of other brokerages have also recently commented on AEM. Citigroup increased 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 note on Monday, March 31st. UBS Group upped their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. TD Securities lowered their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Finally, Bank of America increased their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $124.40.

Agnico Eagle Mines Trading Up 4.1 %

Shares of AEM traded up $4.96 during trading hours on Wednesday, reaching $125.53. The stock had a trading volume of 800,159 shares, compared to its average volume of 2,416,943. The firm has a 50-day moving average of $102.46 and a 200 day moving average of $90.29. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $63.18 billion, a P/E ratio of 33.21, a P/E/G ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines has a 52 week low of $60.41 and a 52 week high of $125.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. On average, sell-side analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of large investors have recently bought and sold shares of AEM. Van ECK Associates Corp increased its position in Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after buying an additional 778,919 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock worth $1,554,180,000 after acquiring an additional 331,087 shares during the period. Capital World Investors boosted its position in 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 worth $1,091,550,000 after purchasing an additional 4,121,164 shares during the last quarter. Deutsche Bank AG grew its stake in Agnico Eagle Mines by 0.7% in the 4th 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 during the period. Finally, Norges Bank purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $573,446,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.