Agnico Eagle Mines (NYSE:AEM) Reaches New 12-Month High – Time to Buy?

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) shares hit a new 52-week high on Tuesday . The stock traded as high as $96.73 and last traded at $94.86, with a volume of 2584569 shares changing hands. The stock had previously closed at $92.94.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AEM shares. Jefferies Financial Group increased their price target 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 raised their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.50.

Agnico Eagle Mines Stock Performance

The company has a market capitalization of $47.64 billion, a PE ratio of 47.43, a PEG ratio of 0.62 and a beta of 1.10. The business’s 50-day moving average is $83.95 and its 200-day moving average is $81.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new position in Agnico Eagle Mines during the 4th quarter valued at about $26,000. Decker Retirement Planning Inc. bought a new stake in Agnico Eagle Mines during the 4th quarter valued at about $29,000. FSC Wealth Advisors LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter valued at about $32,000. Fifth Third Bancorp increased its stake in Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after purchasing an additional 260 shares in the last quarter. Finally, Montag A & Associates Inc. increased its stake in Agnico Eagle Mines by 85.2% during the 4th quarter. Montag A & Associates Inc. now owns 500 shares of the mining company’s stock valued at $39,000 after purchasing an additional 230 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.