Agnico Eagle Mines Limited (NYSE:AEM) Receives $238.31 Consensus PT from Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $233.6154.

AEM has been the subject of several research reports. Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Scotiabank cut their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a report on Tuesday. UBS Group reduced their price target on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Scotia reduced their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd.

Institutional Trading of Agnico Eagle Mines

Large investors have recently added to or reduced their stakes in the business. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $26,000. Abound Wealth Management raised its holdings in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter worth approximately $35,000. Jessup Wealth Management Inc bought a new position in Agnico Eagle Mines during the 4th quarter valued at $35,000. Finally, Allied Private Wealth LLC bought a new position in Agnico Eagle Mines during the 2nd quarter valued at $36,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 0.3%

NYSE AEM opened at $136.89 on Monday. The company has a market capitalization of $69.48 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. Agnico Eagle Mines has a 12 month low of $117.65 and a 12 month high of $255.24. The company’s fifty day moving average price is $165.41 and its two-hundred day moving average price is $191.42.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company earned $1.53 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 66.1% on a year-over-year basis. As a group, research analysts predict that Agnico Eagle Mines will post 12.39 earnings per share for the current fiscal year.

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.