Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $78.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective raised by stock analysts at TD Securities from $74.00 to $78.00 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the mining company’s stock. TD Securities’ price target would suggest a potential upside of 22.01% from the company’s current price.

AEM has been the topic of a number of other research reports. Raymond James increased their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. CIBC increased their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday. Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Finally, Citigroup increased their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $69.63.

Agnico Eagle Mines Stock Down 2.9 %

Shares of NYSE:AEM traded down $1.88 during midday trading on Tuesday, reaching $63.93. The company had a trading volume of 1,977,869 shares, compared to its average volume of 3,295,150. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $67.80. The stock’s fifty day moving average price is $57.26 and its 200-day moving average price is $52.80. The stock has a market capitalization of $31.88 billion, a P/E ratio of 67.23, a PEG ratio of 0.89 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned $0.57 EPS. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Equities research analysts expect that Agnico Eagle Mines will post 2.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several large investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its position in shares of Agnico Eagle Mines by 9.5% during the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after purchasing an additional 1,995,127 shares in the last quarter. FIL Ltd boosted its holdings in shares of Agnico Eagle Mines by 16.4% in the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after buying an additional 2,831,794 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Agnico Eagle Mines by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock worth $963,320,000 after buying an additional 338,264 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Agnico Eagle Mines by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock worth $626,981,000 after buying an additional 152,166 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Agnico Eagle Mines by 0.4% in the fourth quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock worth $538,193,000 after buying an additional 41,068 shares during the period. 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.