Jefferies Financial Group Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $85.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective increased by Jefferies Financial Group from $68.00 to $85.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 7.62% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. BMO Capital Markets lowered their price objective on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. TD Securities increased their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Scotiabank lifted their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded down $0.96 during midday trading on Friday, hitting $78.98. The company’s stock had a trading volume of 1,361,305 shares, compared to its average volume of 2,691,401. Agnico Eagle Mines has a 12 month low of $43.29 and a 12 month high of $85.14. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average price is $79.51 and its 200-day moving average price is $70.55. The company has a market capitalization of $39.51 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. Analysts anticipate that Agnico Eagle Mines will post 3.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FIL Ltd grew its stake in shares of Agnico Eagle Mines by 16.4% in the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after purchasing an additional 2,831,794 shares during the period. TD Asset Management Inc boosted its position in Agnico Eagle Mines by 24.1% in the 1st quarter. TD Asset Management Inc now owns 5,306,106 shares of the mining company’s stock valued at $316,700,000 after buying an additional 1,031,142 shares during the last quarter. Capital Wealth Planning LLC boosted its stake in shares of Agnico Eagle Mines by 62.3% in the 1st quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock valued at $156,304,000 after purchasing an additional 1,006,001 shares during the last quarter. National Bank of Canada FI raised its position in shares of Agnico Eagle Mines by 27.9% during the 1st quarter. National Bank of Canada FI now owns 4,007,554 shares of the mining company’s stock valued at $239,051,000 after acquiring an additional 874,920 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Agnico Eagle Mines by 1,607.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 848,375 shares of the mining company’s stock worth $46,533,000 after buying an additional 798,679 shares during the period. 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.