Agnico Eagle Mines Limited (NYSE:AEM) Receives $232.18 Average PT from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $232.1818.

AEM has been the topic of several recent research reports. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Wall Street Zen upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. TD Securities raised their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors lifted its holdings in Agnico Eagle Mines by 2.8% in the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after buying an additional 572,473 shares during the period. Vanguard Group Inc. lifted its holdings in Agnico Eagle Mines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after buying an additional 309,717 shares during the period. Van ECK Associates Corp lifted its holdings in Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after buying an additional 3,062,705 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Agnico Eagle Mines by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after buying an additional 602,489 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Agnico Eagle Mines by 1.7% in the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after buying an additional 165,263 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $215.45 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $107.95 billion, a PE ratio of 24.26 and a beta of 0.71. The business’s 50-day moving average price is $212.00 and its 200-day moving average price is $187.35. Agnico Eagle Mines has a 12 month low of $102.75 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the company earned $1.26 EPS. The company’s revenue was up 60.3% on a year-over-year basis. Sell-side analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is 20.27%.

About Agnico Eagle Mines

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.