Agnico Eagle Mines Limited (NYSE:AEM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $87.11.

A number of equities analysts have recently issued reports on AEM shares. Jefferies Financial Group increased their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday. UBS Group started coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock.

Agnico Eagle Mines Stock Up 2.8 %

Shares of NYSE AEM opened at $83.41 on Thursday. Agnico Eagle Mines has a 52-week low of $44.37 and a 52-week high of $89.00. The firm has a market capitalization of $41.86 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 0.68 and a beta of 1.08. The stock has a 50 day moving average price of $81.88 and a 200 day moving average price of $79.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently made changes to their positions in AEM. FMR LLC increased its position in shares of Agnico Eagle Mines by 43.5% in the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after acquiring an additional 4,562,005 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Agnico Eagle Mines by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock valued at $868,638,000 after buying an additional 134,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after purchasing an additional 817,240 shares during the period. National Bank of Canada FI raised its position in Agnico Eagle Mines by 7.4% during the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after acquiring an additional 285,565 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Agnico Eagle Mines by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after purchasing an additional 591,178 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

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.