Analysts Set Agnico Eagle Mines Limited (NYSE:AEM) Price Target at $236.08

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $236.0833.

Several research firms have commented on AEM. UBS Group decreased their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce lifted their target price on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, TD boosted their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after buying an additional 331 shares during the last quarter. AQR Capital Management LLC grew its position in Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after purchasing an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC grew its position in Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after purchasing an additional 1,160 shares during the last quarter. Rhumbline Advisers grew its position in Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after purchasing an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Agnico Eagle Mines by 25.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.1%

Shares of Agnico Eagle Mines stock opened at $166.79 on Thursday. Agnico Eagle Mines has a 12-month low of $114.60 and a 12-month high of $255.24. The company has a market cap of $84.66 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 3.66 and a beta of 0.56. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $185.16 and its 200-day moving average price is $194.51.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the business posted $1.53 earnings per share. The firm’s revenue was up 66.1% compared to the same quarter last year. On average, equities analysts expect that Agnico Eagle Mines will post 13.2 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

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.