Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $78.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price hoisted by investment analysts at TD Securities from $74.00 to $78.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the mining company’s stock. TD Securities’ price objective indicates a potential upside of 22.01% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Citigroup upped their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. CIBC upped their target price on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James upped their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.63.

Agnico Eagle Mines Price Performance

NYSE AEM traded down $1.88 during trading hours on Tuesday, reaching $63.93. 1,977,869 shares of the stock traded hands, compared to its average volume of 3,295,150. The stock has a 50 day simple moving average of $57.26 and a two-hundred day simple moving average of $52.80. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $67.80. The company has a market cap of $31.88 billion, a price-to-earnings ratio of 67.23, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.16. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. Agnico Eagle Mines’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. On average, analysts predict that Agnico Eagle Mines will post 2.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AEM. Blair William & Co. IL lifted its holdings in shares of Agnico Eagle Mines by 5.9% in the 3rd quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock valued at $1,078,000 after acquiring an additional 1,313 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Agnico Eagle Mines by 15.5% in the 4th quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after acquiring an additional 48,782 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Agnico Eagle Mines by 5.7% in the 3rd quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after acquiring an additional 34,072 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $41,610,000. Finally, Sprott Inc. lifted its holdings in shares of Agnico Eagle Mines by 4.1% in the 3rd quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock valued at $65,249,000 after acquiring an additional 55,032 shares during the last quarter. 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.