TD Securities Cuts Agnico Eagle Mines (NYSE:AEM) Price Target to $106.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective cut by TD Securities from $108.00 to $106.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the mining company’s stock. TD Securities’ price target suggests a potential upside of 8.09% from the company’s previous close.

Several other research analysts also recently commented on AEM. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Scotiabank increased their price objective 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. StockNews.com upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Royal Bank of Canada increased their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $94.63.

Agnico Eagle Mines Stock Up 0.8 %

Shares of AEM stock traded up $0.75 during trading hours on Wednesday, hitting $98.07. 1,823,875 shares of the company were exchanged, compared to its average volume of 2,128,462. The company has a market capitalization of $49.32 billion, a PE ratio of 25.95, a PEG ratio of 0.64 and a beta of 1.10. Agnico Eagle Mines has a 52 week low of $47.73 and a 52 week high of $101.45. The business has a 50 day moving average of $86.99 and a two-hundred day moving average of $83.56. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released 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%. Analysts anticipate that Agnico Eagle Mines will post 4.71 earnings per share for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $573,446,000. FMR LLC lifted its holdings in shares of Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after purchasing an additional 4,562,005 shares in the last quarter. Capital World Investors grew its stake in Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after buying an additional 3,155,927 shares during the period. Finally, AGF Management Ltd. raised its stake in shares of Agnico Eagle Mines by 184.6% during the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after purchasing an additional 905,328 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.