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

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

Several other equities analysts have also weighed in on the stock. Desjardins reiterated an average rating and set a $63.00 price objective on shares of Agnico Eagle Mines in a report on Wednesday, May 15th. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a strong sell rating to a hold rating in a report on Monday, April 22nd. Raymond James upped their price objective on shares of Agnico Eagle Mines from $61.00 to $65.00 and gave the company an outperform rating in a report on Friday, July 26th. Citigroup set a $55.00 target price on shares of Agnico Eagle Mines and gave the stock a hold rating in a report on Tuesday, July 2nd. Finally, CIBC restated a buy rating and issued a $70.00 target price on shares of Agnico Eagle Mines in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Agnico Eagle Mines has a consensus rating of Buy and an average target price of $58.06.

Shares of NYSE AEM opened at $59.10 on Wednesday. The firm’s 50-day moving average price is $54.05 and its 200-day moving average price is $46.08. Agnico Eagle Mines has a 1-year low of $32.18 and a 1-year high of $60.63. The firm has a market capitalization of $14.11 billion, a P/E ratio of 151.79, a P/E/G ratio of 76.72 and a beta of -0.42. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 24th. The mining company reported $0.10 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $526.60 million for the quarter, compared to analyst estimates of $490.93 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities research analysts forecast that Agnico Eagle Mines will post 0.8 EPS for the current 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 issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, August 29th. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.22.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth about $26,000. Carroll Financial Associates Inc. grew its position in Agnico Eagle Mines by 64.0% in the 2nd quarter. Carroll Financial Associates Inc. now owns 546 shares of the mining company’s stock worth $27,000 after purchasing an additional 213 shares in the last quarter. SeaBridge Investment Advisors LLC grew its position in Agnico Eagle Mines by 66.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 1,000 shares of the mining company’s stock worth $51,000 after purchasing an additional 400 shares in the last quarter. Signaturefd LLC grew its position in Agnico Eagle Mines by 36.2% in the 1st quarter. Signaturefd LLC now owns 1,743 shares of the mining company’s stock worth $76,000 after purchasing an additional 463 shares in the last quarter. Finally, Tyers Asset Management LLC grew its position in Agnico Eagle Mines by 25.0% in the 2nd quarter. Tyers Asset Management LLC now owns 1,680 shares of the mining company’s stock worth $83,000 after purchasing an additional 336 shares in the last quarter. 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.

Read More: Why is the ex-dividend date different from the record date?

Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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