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

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $86.78.

Several brokerages have recently weighed in on AEM. UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Scotiabank upped their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. CIBC raised their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. BMO Capital Markets cut their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Finally, Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th.

Hedge Funds Weigh In On Agnico Eagle Mines

Large investors have recently bought and sold shares of the business. Continuum Advisory LLC grew its holdings in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the last quarter. Stephens Consulting LLC acquired a new position in Agnico Eagle Mines during the 1st quarter valued at approximately $30,000. Abich Financial Wealth Management LLC bought a new position in Agnico Eagle Mines during the 2nd quarter worth $32,000. Janiczek Wealth Management LLC increased its position in Agnico Eagle Mines by 406.4% in the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in Agnico Eagle Mines in the fourth quarter valued at $47,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $78.82 on Tuesday. The business’s 50-day simple moving average is $79.62 and its 200 day simple moving average is $70.71. The company has a market cap of $39.43 billion, a P/E ratio of 82.97, a PEG ratio of 0.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. Agnico Eagle Mines has a one year low of $43.29 and a one year high of $85.14.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. On average, sell-side analysts forecast that Agnico Eagle Mines will post 3.73 earnings per share 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.