Agnico Eagle Mines Limited (NYSE:AEM) Receives $72.22 Consensus Target Price from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $72.22.

Several brokerages recently weighed in on AEM. TD Securities raised their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd. BMO Capital Markets cut their target price on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. CIBC lifted their price target on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th.

Hedge Funds Weigh In On Agnico Eagle Mines

Large investors have recently made changes to their positions in the business. Clean Yield Group purchased a new position in Agnico Eagle Mines during the first quarter valued at approximately $60,000. Boston Partners purchased a new position in shares of Agnico Eagle Mines during the 1st quarter valued at $297,000. Cetera Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the first quarter worth $293,000. Cetera Investment Advisers purchased a new stake in shares of Agnico Eagle Mines during the first quarter worth $2,517,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Agnico Eagle Mines during the first quarter valued at $50,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 1.6 %

Agnico Eagle Mines stock opened at $66.38 on Friday. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $71.50. The stock has a market cap of $33.21 billion, a price-to-earnings ratio of 69.87, a PEG ratio of 0.72 and a beta of 1.11. The company’s 50-day moving average price is $66.28 and its two-hundred day moving average price is $57.85. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. On average, analysts expect that Agnico Eagle Mines will post 3.16 EPS for the current fiscal year.

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.