Agnico Eagle Mines (NYSE:AEM) Given New $81.00 Price Target at CIBC

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target upped by CIBC from $80.00 to $81.00 in a research note released on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the mining company’s stock.

Other equities analysts have also recently issued reports about the company. National Bank Financial reiterated an outperform overweight rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Raymond James lifted their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an outperform rating in a report on Friday, January 12th. Citigroup increased their price target on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a buy rating in a report on Tuesday. Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a hold rating in a research note on Monday, April 22nd. Finally, TD Securities lowered their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a buy rating on the stock in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of Moderate Buy and a consensus price target of $69.63.

Agnico Eagle Mines Trading Down 3.7 %

Shares of Agnico Eagle Mines stock opened at $63.35 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The stock has a market capitalization of $31.59 billion, a P/E ratio of 66.68, a P/E/G ratio of 0.89 and a beta of 1.06. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $67.80. The stock’s 50-day simple moving average is $57.26 and its 200 day simple moving average is $52.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. As a group, research analysts anticipate that Agnico Eagle Mines will post 2.77 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. Agnico Eagle Mines’s dividend payout ratio is presently 168.42%.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors have recently made changes to their positions in AEM. Van ECK Associates Corp grew its position in Agnico Eagle Mines by 9.5% in the fourth quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after acquiring an additional 1,995,127 shares in the last quarter. FIL Ltd lifted its stake in Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after purchasing an additional 2,831,794 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Agnico Eagle Mines by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock worth $963,320,000 after purchasing an additional 338,264 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Agnico Eagle Mines by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock worth $626,981,000 after purchasing an additional 152,166 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Agnico Eagle Mines by 0.4% during the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after purchasing an additional 41,068 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

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.