Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been given a consensus recommendation of “Buy” by the thirteen ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $54.94.

Several brokerages have recently commented on AEM. ValuEngine upgraded Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank Of Canada restated a “hold” rating and set a $54.00 price target on shares of Agnico Eagle Mines Limited in a research note on Thursday, August 24th. BMO Capital Markets set a $47.00 price target on Agnico Eagle Mines Limited and gave the company a “hold” rating in a research note on Tuesday, August 22nd. TD Securities raised their price target on Agnico Eagle Mines Limited from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, Scotiabank raised their price target on Agnico Eagle Mines Limited from $58.00 to $58.50 and gave the company an “outperform” rating in a research note on Friday, July 28th.

Hedge funds have recently modified their holdings of the stock. Capstone Asset Management Co. boosted its holdings in Agnico Eagle Mines Limited by 0.3% in the second quarter. Capstone Asset Management Co. now owns 34,381 shares of the mining company’s stock worth $1,551,000 after acquiring an additional 110 shares in the last quarter. Colony Group LLC boosted its holdings in Agnico Eagle Mines Limited by 2.4% in the first quarter. Colony Group LLC now owns 7,365 shares of the mining company’s stock worth $313,000 after acquiring an additional 175 shares in the last quarter. Wetherby Asset Management Inc. boosted its holdings in Agnico Eagle Mines Limited by 3.5% in the second quarter. Wetherby Asset Management Inc. now owns 5,110 shares of the mining company’s stock worth $230,000 after acquiring an additional 175 shares in the last quarter. IFP Advisors Inc boosted its holdings in Agnico Eagle Mines Limited by 9.8% in the first quarter. IFP Advisors Inc now owns 2,639 shares of the mining company’s stock worth $112,000 after acquiring an additional 235 shares in the last quarter. Finally, World Asset Management Inc boosted its holdings in Agnico Eagle Mines Limited by 1.8% in the first quarter. World Asset Management Inc now owns 13,952 shares of the mining company’s stock worth $592,000 after acquiring an additional 247 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors.

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Shares of Agnico Eagle Mines Limited (NYSE:AEM) traded down 1.73% during mid-day trading on Wednesday, hitting $50.54. 1,113,941 shares of the stock were exchanged. The firm has a market cap of $11.69 billion, a P/E ratio of 46.45 and a beta of -0.71. The stock’s 50 day moving average is $46.96 and its 200 day moving average is $45.85. Agnico Eagle Mines Limited has a 12 month low of $35.05 and a 12 month high of $57.35.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 26th. The mining company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.16 by $0.10. The firm had revenue of $549.88 million for the quarter, compared to analyst estimates of $529.43 million. Agnico Eagle Mines Limited had a return on equity of 5.38% and a net margin of 11.32%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. Analysts expect that Agnico Eagle Mines Limited will post $0.80 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Wednesday, August 30th. Agnico Eagle Mines Limited’s payout ratio is currently 36.70%.

About Agnico Eagle Mines Limited

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

Analyst Recommendations for Agnico Eagle Mines Limited (NYSE:AEM)

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