Agnico Eagle Mines (NYSE:AEM) PT Raised to $81.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target upped by analysts at CIBC from $80.00 to $81.00 in a report issued on Tuesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the mining company’s stock. CIBC’s price target would indicate a potential upside of 26.09% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. TD Securities lowered their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Raymond James increased their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, Citigroup increased their price objective on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.63.

Agnico Eagle Mines Price Performance

AEM stock opened at $64.24 on Tuesday. The firm has a 50 day moving average of $57.55 and a 200-day moving average of $52.90. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $32.03 billion, a P/E ratio of 67.62, a price-to-earnings-growth ratio of 0.88 and a beta of 1.06. Agnico Eagle Mines has a 12 month low of $43.22 and a 12 month high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.60 by $0.16. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. As a group, sell-side analysts predict that Agnico Eagle Mines will post 2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEM. Banque Cantonale Vaudoise grew its holdings in Agnico Eagle Mines by 2.8% in the first quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after purchasing an additional 169 shares during the period. Gulf International Bank UK Ltd grew its stake in shares of Agnico Eagle Mines by 4.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after buying an additional 226 shares during the last quarter. Natixis Advisors L.P. increased its position in Agnico Eagle Mines by 1.3% during the 3rd quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock valued at $827,000 after buying an additional 242 shares in the last quarter. FirstPurpose Wealth LLC raised its stake in Agnico Eagle Mines by 3.8% during the third quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock valued at $326,000 after buying an additional 260 shares during the last quarter. Finally, Violich Capital Management Inc. boosted its holdings in Agnico Eagle Mines by 1.4% in the first quarter. Violich Capital Management Inc. now owns 21,654 shares of the mining company’s stock worth $1,292,000 after acquiring an additional 300 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.