Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High – Here’s Why

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $88.18 and last traded at $87.43, with a volume of 472276 shares. The stock had previously closed at $86.63.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AEM. CIBC lifted their target price on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. TD Securities boosted their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Scotiabank increased their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Stock Up 1.1 %

The business has a fifty day moving average of $81.02 and a 200 day moving average of $72.67. 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 firm has a market cap of $43.81 billion, a P/E ratio of 92.20, a P/E/G ratio of 0.71 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data 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. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. Agnico Eagle Mines’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 3.88 EPS for the current year.

Institutional Trading of Agnico Eagle Mines

Large investors have recently made changes to their positions in the company. FSC Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at about $32,000. Waldron Private Wealth LLC raised its holdings in Agnico Eagle Mines by 34.3% during the 3rd quarter. Waldron Private Wealth LLC now owns 6,139 shares of the mining company’s stock worth $495,000 after buying an additional 1,567 shares during the period. Eastern Bank bought a new position in Agnico Eagle Mines in the third quarter valued at approximately $273,000. Signaturefd LLC boosted its holdings in shares of Agnico Eagle Mines by 4.1% in the third quarter. Signaturefd LLC now owns 9,227 shares of the mining company’s stock valued at $743,000 after buying an additional 367 shares during the period. Finally, U S Global Investors Inc. increased its position in shares of Agnico Eagle Mines by 22.2% during the third quarter. U S Global Investors Inc. now owns 27,500 shares of the mining company’s stock worth $2,215,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

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.