Agnico Eagle Mines (NYSE:AEM) Hits New 1-Year High – Still a Buy?

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $223.44 and last traded at $215.6260, with a volume of 3793107 shares traded. The stock had previously closed at $214.54.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AEM. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a research note on Sunday, December 7th. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Bank of America lifted their price target on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Finally, Scotiabank lifted their target price on shares of Agnico Eagle Mines from $219.00 to $276.00 and gave the stock an “outperform” rating in a research note on Monday. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $217.40.

Agnico Eagle Mines Stock Performance

The company has a market capitalization of $111.74 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.63. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average is $181.18 and its two-hundred day moving average is $161.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company earned $1.14 EPS. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of large investors have recently made changes to their positions in AEM. Ameritas Advisory Services LLC purchased a new stake in Agnico Eagle Mines in the second quarter worth approximately $25,000. True Wealth Design LLC raised its stake in Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at $29,000. City State Bank boosted its stake in shares of Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after buying an additional 110 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after acquiring an additional 74 shares during the period. 68.34% of the stock is currently owned by institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.