Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $179.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective upped by JPMorgan Chase & Co. from $175.00 to $179.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the mining company’s stock.

AEM has been the subject of a number of other research reports. Royal Bank Of Canada decreased their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. TD upped 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. UBS Group decreased their target price on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Bank of America cut their price target on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research lowered shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Trading Up 10.1%

Agnico Eagle Mines stock opened at $165.86 on Monday. The firm has a market cap of $84.05 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.60. Agnico Eagle Mines has a 1 year low of $130.04 and a 1 year high of $255.24. The firm’s 50 day moving average price is $156.02 and its two-hundred day moving average price is $188.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The company’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. On average, research analysts predict that Agnico Eagle Mines will post 11.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $26,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines in the 4th quarter worth about $35,000. Allied Private Wealth LLC purchased a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth about $36,000. Banque Cantonale Vaudoise purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth about $39,000. Finally, University of Texas Texas AM Investment Management Co. raised its stake in shares of Agnico Eagle Mines by 64.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock worth $39,000 after purchasing an additional 90 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other 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.