Agnico Eagle Mines (NYSE:AEM) Sets New 12-Month High – Here’s What Happened

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $91.30 and last traded at $90.80, with a volume of 211536 shares trading hands. The stock had previously closed at $89.97.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.

Agnico Eagle Mines Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $45.16 billion, a price-to-earnings ratio of 44.96, a price-to-earnings-growth ratio of 0.60 and a beta of 1.08. The company’s 50-day moving average is $83.16 and its 200-day moving average is $81.26.

Institutional Trading of Agnico Eagle Mines

Several hedge funds have recently modified their holdings of AEM. AQR Capital Management LLC increased its holdings in shares of Agnico Eagle Mines by 23.3% during the second quarter. AQR Capital Management LLC now owns 13,017 shares of the mining company’s stock worth $851,000 after buying an additional 2,464 shares in the last quarter. Creative Planning increased its holdings in shares of Agnico Eagle Mines by 17.4% during the second quarter. Creative Planning now owns 29,420 shares of the mining company’s stock worth $1,924,000 after buying an additional 4,351 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Agnico Eagle Mines by 10.4% during the second quarter. Truist Financial Corp now owns 45,315 shares of the mining company’s stock worth $2,964,000 after buying an additional 4,276 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $678,000. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $3,978,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

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.