Agnico Eagle Mines (NYSE:AEM) Shares Gap Up – Here’s Why

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) gapped up prior to trading on Monday . The stock had previously closed at $121.53, but opened at $126.20. Agnico Eagle Mines shares last traded at $125.24, with a volume of 548,325 shares.

Analyst Ratings Changes

AEM has been the topic of a number of research analyst reports. UBS Group increased their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. BMO Capital Markets assumed coverage on shares of Agnico Eagle Mines in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $181.00 price target for the company. Bank of America increased their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Finally, Raymond James boosted their target price on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and a consensus price target of $124.40.

Agnico Eagle Mines Stock Up 1.5 %

The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $62.10 billion, a PE ratio of 32.64, a P/E/G ratio of 0.66 and a beta of 0.87. The stock’s fifty day simple moving average is $103.84 and its 200-day simple moving average is $91.21.

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

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.40 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.30%. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several large investors have recently made changes to their positions in AEM. Clarius Group LLC purchased a new position in Agnico Eagle Mines in the first quarter valued at about $247,000. Five Oceans Advisors purchased a new position in shares of Agnico Eagle Mines during the 1st quarter valued at $265,000. Kercheville Advisors LLC grew its stake in shares of Agnico Eagle Mines by 2.7% during the 1st quarter. Kercheville Advisors LLC now owns 117,667 shares of the mining company’s stock worth $12,756,000 after acquiring an additional 3,056 shares during the period. FNY Investment Advisers LLC increased its holdings in Agnico Eagle Mines by 775.0% in the 1st quarter. FNY Investment Advisers LLC now owns 17,500 shares of the mining company’s stock worth $1,897,000 after acquiring an additional 15,500 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new stake in Agnico Eagle Mines in the 1st quarter valued at about $1,589,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.