Agnico Eagle Mines (NYSE:AEM) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price raised by equities research analysts at Canadian Imperial Bank of Commerce from C$304.00 to C$310.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperformer” rating on the mining company’s stock.

Other research analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, March 27th. Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Finally, Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Stock Up 1.6%

Shares of NYSE:AEM traded up $2.84 during midday trading on Tuesday, hitting $178.75. 612,734 shares of the company’s stock traded hands, compared to its average volume of 2,627,174. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The company has a market cap of $89.46 billion, a PE ratio of 16.80, a P/E/G ratio of 3.84 and a beta of 0.58. The firm’s fifty day moving average price is $197.11 and its two-hundred day moving average price is $194.08. Agnico Eagle Mines has a twelve month low of $114.60 and a twelve month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm’s revenue was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 EPS. On average, equities research analysts anticipate that Agnico Eagle Mines will post 13.14 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $26,000. MCF Advisors LLC acquired a new stake in Agnico Eagle Mines during the 3rd quarter valued at approximately $34,000. Abound Wealth Management increased its position in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after purchasing an additional 104 shares during the period. Lodestone Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Finally, Jessup Wealth Management Inc acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at $35,000. 68.34% of the stock is owned by institutional investors.

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.