UBS Group Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $115.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective upped by UBS Group from $110.00 to $115.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the mining company’s stock.

Several other research firms also recently commented on AEM. Bank of America lifted their price objective on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank increased their price objective on 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. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. TD Securities lowered their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Citigroup raised their price target on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $111.90.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $117.73 on Friday. The stock’s 50-day moving average is $101.63 and its 200 day moving average is $89.78. The stock has a market cap of $59.22 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines has a 1-year low of $60.15 and a 1-year high of $118.74. 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 announced its quarterly earnings data 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 return on equity of 10.45% and a net margin of 22.88%. On average, sell-side analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 42.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. grew its stake in Agnico Eagle Mines by 2.0% in the fourth quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company’s stock worth $428,000 after purchasing an additional 106 shares during the period. Duncker Streett & Co. Inc. grew its position in shares of Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after buying an additional 112 shares during the period. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Agnico Eagle Mines by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company’s stock worth $543,000 after acquiring an additional 120 shares in the last quarter. Pinnacle Wealth Management Group Inc. lifted its position in Agnico Eagle Mines by 0.5% during the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after acquiring an additional 125 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Agnico Eagle Mines by 19.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company’s stock worth $84,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors 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.