Agnico Eagle Mines (NYSE:AEM) Price Target Cut to $77.00 by Analysts at BMO Capital Markets

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price decreased by BMO Capital Markets from $79.00 to $77.00 in a report issued on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the mining company’s stock.

Several other equities research analysts have also issued reports on AEM. Scotiabank lifted their price objective on Agnico Eagle Mines from $71.00 to $81.00 and gave the company a sector outperform rating in a research note on Thursday, May 23rd. Citigroup lifted their price objective on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a buy rating in a research note on Tuesday, April 30th. TD Securities lifted their price target on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. CIBC lifted their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an outperform rating in a research note on Tuesday, April 30th. Finally, National Bank Financial reaffirmed an outperform overweight rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of Moderate Buy and an average price target of $72.22.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $65.23 on Thursday. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $71.50. The business has a fifty day moving average price of $66.01 and a 200-day moving average price of $57.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The firm has a market capitalization of $32.63 billion, a P/E ratio of 68.66, a PEG ratio of 0.73 and a beta of 1.11.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. As a group, equities research analysts forecast that Agnico Eagle Mines will post 3.16 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Stephens Consulting LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter worth about $30,000. Bruce G. Allen Investments LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $33,000. CVA Family Office LLC purchased a new position in Agnico Eagle Mines during the 4th quarter valued at about $36,000. Janiczek Wealth Management LLC increased its holdings in Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the period. Finally, Scarborough Advisors LLC purchased a new position in Agnico Eagle Mines during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.