Agnico Eagle Mines Limited (NYSE:AEM) Receives $211.70 Consensus Price Target from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned an average recommendation of “Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, nine have given a buy rating and five have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $211.70.

Several brokerages have recently issued reports on AEM. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $185.00 to $205.00 in a research note on Wednesday, December 10th. UBS Group upped their price target on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. CIBC boosted their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $205.34 on Monday. The company has a market capitalization of $102.81 billion, a PE ratio of 29.98, a P/E/G ratio of 0.61 and a beta of 0.63. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a twelve month low of $87.07 and a twelve month high of $213.80. The firm has a fifty day simple moving average of $176.24 and a 200 day simple moving average of $157.69.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.During the same period last year, the business posted $1.14 EPS. On average, sell-side analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baker Ellis Asset Management LLC boosted its position in shares of Agnico Eagle Mines by 0.8% during the 4th quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company’s stock valued at $1,280,000 after acquiring an additional 63 shares during the last quarter. Modera Wealth Management LLC boosted its holdings in shares of Agnico Eagle Mines by 6.2% in the 4th quarter. Modera Wealth Management LLC now owns 3,564 shares of the mining company’s stock worth $604,000 after purchasing an additional 207 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $50,000. Portside Wealth Group LLC raised its position in Agnico Eagle Mines by 8.8% in the 4th quarter. Portside Wealth Group LLC now owns 16,027 shares of the mining company’s stock worth $2,717,000 after purchasing an additional 1,300 shares during the period. Finally, Rathbones Group PLC lifted its stake in Agnico Eagle Mines by 7.4% in the fourth quarter. Rathbones Group PLC now owns 57,910 shares of the mining company’s stock worth $9,831,000 after purchasing an additional 4,005 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.