Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $251.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price boosted by equities research analysts at TD Securities from $241.00 to $251.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the mining company’s stock. TD Securities’ price target points to a potential upside of 8.02% from the company’s current price.

A number of other analysts also recently commented on AEM. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $185.00 to $205.00 in a research note on Wednesday, December 10th. Erste Group Bank cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. decreased their price target on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Finally, Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a research note on Sunday, December 7th. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded down $19.82 during mid-day trading on Tuesday, hitting $232.37. 2,581,052 shares of the company’s stock traded hands, compared to its average volume of 2,810,890. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a one year low of $94.37 and a one year high of $255.24. The firm has a 50 day moving average price of $203.91 and a 200 day moving average price of $176.03. The company has a market cap of $116.42 billion, a PE ratio of 26.17 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. On average, equities analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently made changes to their positions in AEM. Capital World Investors boosted its stake in Agnico Eagle Mines by 2.8% during the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after purchasing an additional 572,473 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Agnico Eagle Mines by 1.5% during the fourth 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 last quarter. Van ECK Associates Corp boosted its position in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after acquiring an additional 3,062,705 shares during the period. Massachusetts Financial Services Co. MA grew its stake 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 worth $1,974,242,000 after acquiring an additional 602,489 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after acquiring an additional 165,263 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

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.