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

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $86.78.

AEM has been the subject of a number of research reports. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada increased their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, UBS Group assumed coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock.

Institutional Trading of Agnico Eagle Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bridgewater Associates LP increased its position in shares of Agnico Eagle Mines by 123.2% during the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock worth $16,448,000 after purchasing an additional 112,712 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Agnico Eagle Mines by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock valued at $91,681,000 after buying an additional 32,991 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Agnico Eagle Mines by 14.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after buying an additional 29,106 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Agnico Eagle Mines during the third quarter worth $655,000. Finally, Citigroup Inc. raised its position in Agnico Eagle Mines by 84.4% during the third quarter. Citigroup Inc. now owns 182,142 shares of the mining company’s stock worth $14,689,000 after acquiring an additional 83,387 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

AEM stock opened at $77.36 on Friday. The firm has a market cap of $38.83 billion, a PE ratio of 38.68, a P/E/G ratio of 0.68 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $83.49 and its two-hundred day moving average price is $77.95. Agnico Eagle Mines has a 1-year low of $44.37 and a 1-year high of $89.00.

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.