Brokerages Set Agnico Eagle Mines Limited (NYSE:AEM) Price Target at $239.36

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $238.1818.

AEM has been the subject of several research reports. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, April 29th. Finally, TD raised 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 note on Tuesday, April 21st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AEM. TD Waterhouse Canada Inc. grew its stake in shares of Agnico Eagle Mines by 13.4% during the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock worth $192,951,000 after purchasing an additional 134,147 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Agnico Eagle Mines by 42.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock worth $11,088,000 after purchasing an additional 19,647 shares during the period. Ninety One UK Ltd grew its stake in shares of Agnico Eagle Mines by 386.5% during the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after purchasing an additional 149,506 shares during the period. Gunderson Capital Management Inc. grew its stake in shares of Agnico Eagle Mines by 187.6% during the fourth quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock worth $8,155,000 after purchasing an additional 31,378 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its stake in shares of Agnico Eagle Mines by 1,560.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after purchasing an additional 45,746 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 1.0%

AEM stock opened at $178.11 on Wednesday. The business has a fifty day moving average price of $210.77 and a 200 day moving average price of $192.04. The stock has a market capitalization of $89.14 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 4.03 and a beta of 0.58. Agnico Eagle Mines has a fifty-two week low of $103.38 and a fifty-two week high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.69% and a net margin of 39.46%.The business’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. Analysts expect that Agnico Eagle Mines will post 12.95 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Agnico Eagle Mines’s dividend payout ratio is 16.92%.

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.