Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $126.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target raised by Scotiabank from $105.00 to $126.00 in a research report sent to investors on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the mining company’s stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. TD Securities decreased their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Raymond James increased their target price on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Royal Bank of Canada lifted their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Finally, UBS Group raised their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus target price of $124.40.

Agnico Eagle Mines Trading Up 1.8 %

Shares of AEM opened at $122.69 on Monday. Agnico Eagle Mines has a 1-year low of $61.56 and a 1-year high of $125.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $102.95 and a 200-day simple moving average of $90.51. The stock has a market cap of $61.75 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Equities analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.30%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently bought and sold shares of AEM. Versant Capital Management Inc acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC lifted its stake in Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in Agnico Eagle Mines during the 4th quarter worth about $29,000. Fifth Third Bancorp grew 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 acquiring an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. increased its holdings in shares of Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 shares during the period. 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.