Analysts Set Agnico Eagle Mines Limited (NYSE:AEM) PT at $86.78

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $86.78.

Several brokerages have recently issued reports on AEM. TD Securities lifted their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. CIBC lifted their price objective 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. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Royal Bank of Canada upped their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank lifted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $85.80 on Friday. The firm’s 50 day moving average is $82.30 and its two-hundred day moving average is $74.13. The firm has a market capitalization of $43.05 billion, a P/E ratio of 42.90, a PEG ratio of 0.78 and a beta of 1.10. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 52 week low of $44.37 and a 52 week high of $89.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, October 30th. The mining company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $1.83 billion. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.98%. Analysts anticipate that Agnico Eagle Mines will post 4.01 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

Institutional investors have recently made changes to their positions in the stock. Continuum Advisory LLC grew its holdings in shares of Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after acquiring an additional 363 shares in the last quarter. Stephens Consulting LLC purchased a new position in Agnico Eagle Mines in the first quarter valued at about $30,000. Abich Financial Wealth Management LLC purchased a new position in Agnico Eagle Mines in the second quarter valued at about $32,000. FSC Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the 3rd quarter worth about $32,000. Finally, McClarren Financial Advisors Inc. raised its stake in shares of Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after purchasing an additional 445 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.