Agnico Eagle Mines Limited (NYSE:AEM) Receives Average Rating of “Moderate Buy” from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $89.13.

AEM has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $82.38 on Thursday. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. The stock has a market cap of $41.35 billion, a price-to-earnings ratio of 41.19, a PEG ratio of 0.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The firm’s 50-day simple moving average is $81.72 and its 200 day simple moving average is $79.90.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently modified their holdings of AEM. Bridgewater Associates LP increased its stake in shares of Agnico Eagle Mines by 123.2% during the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after purchasing an additional 112,712 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Agnico Eagle Mines by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after purchasing an additional 32,991 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Agnico Eagle Mines by 14.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock worth $18,223,000 after acquiring an additional 29,106 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Agnico Eagle Mines by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company’s stock worth $183,491,000 after acquiring an additional 178,999 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter valued at $655,000. 68.34% of the stock is owned by institutional investors.

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.