Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $195.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective increased by TD Securities from $154.00 to $195.00 in a research note released on Wednesday,BayStreet.CA reports. They currently have a buy rating on the mining company’s stock.

Several other research firms also recently commented on AEM. Bank of America upped their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a report on Monday, June 23rd. UBS Group upped their price objective on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Agnico Eagle Mines in a report on Wednesday. Lake Street Capital reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Finally, Raymond James Financial raised shares of Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective on the stock in a report on Monday, June 30th. Six research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $162.10.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $164.28 on Wednesday. The firm has a market capitalization of $82.60 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. The firm has a fifty day simple moving average of $149.57 and a two-hundred day simple moving average of $128.20. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines has a 12 month low of $75.17 and a 12 month high of $172.21.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue was up 35.6% compared to the same quarter last year. Analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEM. Norges Bank purchased a new position in Agnico Eagle Mines during the second quarter valued at $938,644,000. TD Asset Management Inc lifted its position in Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after buying an additional 2,709,005 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Agnico Eagle Mines by 38.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after buying an additional 2,319,131 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Agnico Eagle Mines by 48.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after buying an additional 1,474,385 shares during the period. Finally, Invesco Ltd. lifted its position in Agnico Eagle Mines by 53.1% during the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after buying an additional 1,444,746 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.