Brokerages Set Agnico Eagle Mines Limited (NYSE:AEM) Target Price at $236.08

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $236.0833.

AEM has been the subject of several analyst reports. Barclays initiated coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price objective for the company. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. UBS Group dropped their price objective on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, March 27th. Finally, Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday, June 13th.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $153.20 on Thursday. The stock has a market cap of $77.76 billion, a P/E ratio of 14.40, a PEG ratio of 3.52 and a beta of 0.56. The stock has a 50 day simple moving average of $182.71 and a 200 day simple moving average of $194.32. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 1-year low of $114.60 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm posted $1.53 EPS. The firm’s revenue for the quarter was up 66.1% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines will post 13.2 earnings per share for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in Agnico Eagle Mines in the 4th quarter valued at approximately $1,367,783,000. Capital World Investors increased its stake in shares of Agnico Eagle Mines by 20.0% in the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after buying an additional 3,462,968 shares during the period. Van ECK Associates Corp increased its stake in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after buying an additional 3,062,705 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $194,195,000. Finally, Employees Provident Fund Board acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $183,341,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.