Brokerages Set Agnico Eagle Mines Limited (NYSE:AEM) Target Price at $86.78

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $86.78.

Several equities research analysts have recently issued reports on AEM shares. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. UBS Group began coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective for the company. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, TD Securities boosted their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd.

Agnico Eagle Mines Trading Down 0.1 %

Shares of AEM stock opened at $86.76 on Friday. The company has a market cap of $43.40 billion, a PE ratio of 91.33, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. Agnico Eagle Mines has a 1 year low of $44.37 and a 1 year high of $89.00. The stock’s 50 day simple moving average is $81.90 and its two-hundred day simple moving average is $73.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.14. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. Agnico Eagle Mines’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. Research analysts predict that Agnico Eagle Mines will post 3.88 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV lifted its holdings in Agnico Eagle Mines by 1,903.9% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,545 shares of the mining company’s stock worth $205,000 after buying an additional 2,418 shares during the period. US Bancorp DE raised its position in shares of Agnico Eagle Mines by 43.3% in the 3rd quarter. US Bancorp DE now owns 6,595 shares of the mining company’s stock worth $531,000 after acquiring an additional 1,994 shares in the last quarter. Oak Harvest Investment Services purchased a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth $7,923,000. First Trust Direct Indexing L.P. boosted its position in Agnico Eagle Mines by 26.5% during the third quarter. First Trust Direct Indexing L.P. now owns 6,380 shares of the mining company’s stock valued at $514,000 after purchasing an additional 1,337 shares in the last quarter. Finally, Golden State Equity Partners purchased a new position in Agnico Eagle Mines in the third quarter valued at about $205,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

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.