Citigroup Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $80.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target increased by Citigroup from $65.00 to $80.00 in a report issued on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the mining company’s stock.

Several other research firms have also issued reports on AEM. Raymond James lifted their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an outperform rating in a research report on Friday, January 12th. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a hold rating in a research note on Monday, April 22nd. TD Securities cut their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a buy rating on the stock in a report on Wednesday, February 21st. National Bank Financial restated an outperform overweight rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, CIBC cut their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Two equities 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 currently has an average rating of Moderate Buy and a consensus target price of $69.63.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $65.06 on Tuesday. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $67.80. The firm’s 50-day simple moving average is $58.20 and its two-hundred day simple moving average is $53.07. The stock has a market cap of $32.44 billion, a PE ratio of 68.48, a price-to-earnings-growth ratio of 0.75 and a beta of 1.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share 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 the consensus estimate of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS. Analysts anticipate that Agnico Eagle Mines will post 3.23 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 168.42%.

Hedge Funds Weigh In On Agnico Eagle Mines

Several institutional investors have recently bought and sold shares of the stock. Stephens Consulting LLC bought a new stake in Agnico Eagle Mines in the 1st quarter worth approximately $30,000. Bruce G. Allen Investments LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter valued at $34,000. CVA Family Office LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth $36,000. Finally, Janiczek Wealth Management LLC increased its holdings in shares of Agnico Eagle Mines by 406.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares during the last quarter. 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.