Agnico Eagle Mines Limited (NYSE:AEM) Stock Has Consensus Target Price of $227.15

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has received an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $227.15.

A number of research firms have recently weighed in on AEM. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and lifted their price objective for the company from $187.00 to $200.00 in a research report on Monday, July 6th. Scotiabank lowered their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Scotia dropped their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 3rd. Finally, Royal Bank Of Canada raised their price target on Agnico Eagle Mines from $210.00 to $225.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BIP Wealth LLC acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at $1,167,000. Annex Advisory Services LLC increased its position in Agnico Eagle Mines by 70.5% during the second quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock worth $4,500,000 after buying an additional 11,995 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new position in Agnico Eagle Mines during the second quarter worth $6,923,000. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Agnico Eagle Mines by 12.0% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company’s stock valued at $16,046,000 after buying an additional 11,100 shares in the last quarter. Finally, Allworth Financial LP bought a new position in Agnico Eagle Mines during the second quarter valued at about $740,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $183.87 on Friday. The company has a market capitalization of $93.21 billion, a PE ratio of 15.73, a PEG ratio of 2.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company’s 50 day moving average price is $189.01 and its 200 day moving average price is $182.24. Agnico Eagle Mines has a 52 week low of $134.38 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. Research analysts expect that Agnico Eagle Mines will post 11.46 EPS for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.