JPMorgan Chase & Co. Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $83.00

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Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price raised by JPMorgan Chase & Co. from $68.00 to $83.00 in a report published on Wednesday morning, Stock Target Advisor reports. JPMorgan Chase & Co. currently has an overweight rating on the mining company’s stock.

A number of other brokerages have also recently commented on AEM. Raymond James lifted their target price on shares of Agnico Eagle Mines from $61.00 to $65.00 and gave the stock an outperform rating in a research report on Friday, July 26th. CIBC reiterated a buy rating and issued a $70.00 target price on shares of Agnico Eagle Mines in a research report on Monday, July 29th. GMP Securities upgraded shares of Agnico Eagle Mines from a hold rating to a buy rating in a research report on Tuesday, April 23rd. ValuEngine upgraded shares of Agnico Eagle Mines from a hold rating to a buy rating in a research report on Monday, May 20th. Finally, Zacks Investment Research upgraded shares of Agnico Eagle Mines from a strong sell rating to a hold rating in a research report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $58.06.

NYSE AEM opened at $59.10 on Wednesday. Agnico Eagle Mines has a 52-week low of $32.18 and a 52-week high of $60.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The company has a market capitalization of $13.92 billion, a P/E ratio of 149.74, a P/E/G ratio of 75.68 and a beta of -0.42. The company has a fifty day moving average of $54.05 and a 200-day moving average of $46.08.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 24th. The mining company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Agnico Eagle Mines had a negative net margin of 14.74% and a positive return on equity of 1.92%. The company had revenue of $526.60 million during the quarter, compared to the consensus estimate of $490.93 million. During the same period in the previous year, the firm posted $0.01 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. As a group, analysts forecast that Agnico Eagle Mines will post 0.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, August 29th. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.22.

Several hedge funds have recently added to or reduced their stakes in AEM. First Manhattan Co. lifted its stake in shares of Agnico Eagle Mines by 7.5% in the second quarter. First Manhattan Co. now owns 28,640 shares of the mining company’s stock worth $1,467,000 after buying an additional 2,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $213,000. Voloridge Investment Management LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $3,002,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Agnico Eagle Mines by 7,009.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 533,214 shares of the mining company’s stock worth $27,396,000 after buying an additional 525,714 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Agnico Eagle Mines by 62.0% in the second quarter. Cubist Systematic Strategies LLC now owns 56,459 shares of the mining company’s stock worth $2,893,000 after buying an additional 21,600 shares in the last quarter. Hedge funds and other institutional investors own 60.66% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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