Brokerages Set Agnico Eagle Mines Limited (NYSE:AEM) PT at $226.00

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $226.00.

A number of research firms have commented on AEM. Wall Street Zen lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Scotiabank reduced their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Raymond James Financial decreased their price objective on Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday. UBS Group dropped their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Zacks Research lowered Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $204.75 on Tuesday. The company has a market cap of $103.79 billion, a PE ratio of 17.51, a PEG ratio of 2.55 and a beta of 0.67. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 1 year low of $134.38 and a 1 year high of $255.24. The company’s 50-day moving average is $170.74 and its two-hundred day moving average is $186.78.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 35.0% compared to the same quarter last year. Equities analysts anticipate that Agnico Eagle Mines will post 11.56 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds have recently modified their holdings of the company. BIP Wealth LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at $1,167,000. Annex Advisory Services LLC lifted its holdings in Agnico Eagle Mines by 70.5% during the second quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock worth $4,500,000 after acquiring an additional 11,995 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in Agnico Eagle Mines during the second quarter worth about $6,923,000. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in Agnico Eagle Mines by 12.0% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company’s stock valued at $16,046,000 after acquiring an additional 11,100 shares during the period. Finally, RFG Advisory LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at about $1,122,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.