Agnico Eagle Mines (NYSE:AEM) PT Raised to $85.00 at Jefferies Financial Group

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective upped by Jefferies Financial Group from $68.00 to $85.00 in a report issued on Friday morning, Benzinga reports. They currently have a hold rating on the mining company’s stock.

AEM has been the subject of several other research reports. UBS Group assumed coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a buy rating and a $95.00 price target for the company. BMO Capital Markets cut their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating for the company in a research note on Thursday, June 20th. CIBC raised their target price on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an outperformer rating in a research note on Wednesday, July 10th. Scotiabank upped their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a sector outperform rating in a research report on Monday, August 19th. Finally, Royal Bank of Canada increased their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an outperform rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $86.78.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $78.82 on Friday. The firm’s 50 day moving average price is $79.62 and its 200-day moving average price is $70.82. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $39.43 billion, a PE ratio of 82.97, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. Agnico Eagle Mines has a twelve month low of $43.29 and a twelve month high of $85.14.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $0.65 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. Equities research analysts expect that Agnico Eagle Mines will post 3.73 EPS for the current year.

Institutional Trading of Agnico Eagle Mines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Agnico Eagle Mines by 2.2% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock valued at $472,000 after purchasing an additional 158 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Agnico Eagle Mines by 2.8% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after buying an additional 169 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in shares of Agnico Eagle Mines by 0.3% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock valued at $4,043,000 after buying an additional 189 shares in the last quarter. Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of Agnico Eagle Mines by 0.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after acquiring an additional 190 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of Agnico Eagle Mines by 4.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after acquiring an additional 192 shares during the last quarter. 68.34% of the stock is currently owned by 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.