Agnico Eagle Mines Limited (NYSE:AEM) Receives Average Rating of “Buy” from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and six have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $162.10.

Several analysts have issued reports on the company. CIBC upped their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday. TD Securities upped their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group upped their target price on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, September 19th. National Bankshares restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Finally, Raymond James Financial upped their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a report on Friday.

Hedge Funds Weigh In On Agnico Eagle Mines

Several large investors have recently modified their holdings of AEM. Norges Bank acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $938,644,000. TD Asset Management Inc lifted its stake in shares of Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after purchasing an additional 2,709,005 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after purchasing an additional 2,319,131 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Agnico Eagle Mines by 48.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after purchasing an additional 1,474,385 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Agnico Eagle Mines by 53.1% in the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after purchasing an additional 1,444,746 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 1.6%

Shares of AEM opened at $164.28 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines has a one year low of $75.17 and a one year high of $172.21. The stock has a market capitalization of $82.60 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.08 and a beta of 0.46. The stock has a 50 day moving average price of $149.57 and a 200 day moving average price of $128.20.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities research analysts forecast that Agnico Eagle Mines will post 4.63 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.