Agnico Eagle Mines Limited (NYSE:AEM) Receives Consensus Rating of “Buy” from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and five have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $211.70.

AEM has been the topic of several recent research reports. Citigroup upped their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. UBS Group boosted their price objective on Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, December 1st. CIBC raised their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research report on Sunday, December 7th. Finally, Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ninety One UK Ltd lifted its position in shares of Agnico Eagle Mines by 386.5% during the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock valued at $31,703,000 after buying an additional 149,506 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its position in Agnico Eagle Mines by 1,560.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after acquiring an additional 45,746 shares during the period. Addenda Capital Inc. lifted its holdings in Agnico Eagle Mines by 2.3% during the third quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after purchasing an additional 15,965 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Agnico Eagle Mines by 5.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after purchasing an additional 602,489 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of Agnico Eagle Mines by 12.7% in the second quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock valued at $52,101,000 after purchasing an additional 49,480 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $214.52 on Monday. Agnico Eagle Mines has a twelve month low of $87.45 and a twelve month high of $215.95. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The company has a market cap of $107.40 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. The company’s 50 day moving average is $178.06 and its 200 day moving average is $159.30.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.76 by $0.40. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same period in the prior year, the firm earned $1.14 EPS. On average, sell-side analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Company Profile

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.