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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $232.1818.

AEM has been the topic of several analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. JPMorgan Chase & Co. lowered their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Finally, Citigroup increased their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th.

Agnico Eagle Mines Trading Up 0.1%

NYSE:AEM opened at $208.69 on Friday. The stock’s 50 day moving average price is $212.29 and its 200 day moving average price is $186.82. Agnico Eagle Mines has a 52 week low of $94.77 and a 52 week high of $255.24. The company has a market capitalization of $104.56 billion, a P/E ratio of 23.50 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The firm’s revenue was up 60.3% on a year-over-year basis. On average, research 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. Shareholders of record on Monday, March 2nd were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.9%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is 20.27%.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEM. Salvus Wealth Management LLC grew its stake in shares of Agnico Eagle Mines by 0.9% in the fourth quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company’s stock worth $1,068,000 after acquiring an additional 57 shares during the last quarter. Brookwood Investment Group LLC grew its stake in shares of Agnico Eagle Mines by 4.5% in the fourth quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company’s stock worth $231,000 after acquiring an additional 58 shares during the last quarter. Baron Wealth Management LLC grew its stake in shares of Agnico Eagle Mines by 3.2% in the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company’s stock worth $319,000 after acquiring an additional 59 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Agnico Eagle Mines by 1.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock worth $893,000 after acquiring an additional 59 shares during the last quarter. Finally, Pure Portfolios Holdings LLC grew its stake in shares of Agnico Eagle Mines by 1.6% in the third quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock worth $637,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.