Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $88.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target raised by equities researchers at Jefferies Financial Group from $85.00 to $88.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 5.50% from the stock’s current price.

Other research analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.11.

Agnico Eagle Mines Trading Up 2.8 %

Shares of NYSE:AEM opened at $83.41 on Tuesday. The business’s 50-day moving average is $81.88 and its 200 day moving average is $79.42. Agnico Eagle Mines has a 1 year low of $44.37 and a 1 year high of $89.00. The firm has a market capitalization of $41.86 billion, a P/E ratio of 41.71, a P/E/G ratio of 0.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

Institutional Trading of Agnico Eagle Mines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWA Asset Management Group LLC grew its holdings in Agnico Eagle Mines by 6.1% during the fourth quarter. CWA Asset Management Group LLC now owns 60,143 shares of the mining company’s stock worth $4,704,000 after acquiring an additional 3,475 shares during the period. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines during the fourth quarter worth about $26,000. Confluence Investment Management LLC grew its holdings in Agnico Eagle Mines by 1.8% during the fourth quarter. Confluence Investment Management LLC now owns 20,408 shares of the mining company’s stock worth $1,596,000 after acquiring an additional 351 shares during the period. Principal Financial Group Inc. grew its holdings in Agnico Eagle Mines by 1.4% during the third quarter. Principal Financial Group Inc. now owns 21,822 shares of the mining company’s stock worth $1,760,000 after acquiring an additional 302 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Agnico Eagle Mines by 22.3% during the third quarter. Lord Abbett & CO. LLC now owns 431,200 shares of the mining company’s stock worth $34,736,000 after purchasing an additional 78,700 shares in 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.