Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $173.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target boosted by Bank of America from $170.00 to $173.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the mining company’s stock.

Other research analysts also recently issued research reports about the company. Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Cfra Research upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, April 25th. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Citigroup boosted their price target on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Finally, UBS Group boosted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $130.50.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $119.74 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. The company has a market capitalization of $60.27 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51. The company’s 50 day moving average price is $117.58 and its two-hundred day moving average price is $102.46. Agnico Eagle Mines has a 52 week low of $63.93 and a 52 week high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the business earned $0.76 EPS. The company’s revenue was up 34.9% compared to the same quarter last year. On average, analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.40 dividend. This represents a yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines’s payout ratio is currently 34.04%.

Institutional Trading of Agnico Eagle Mines

Several hedge funds have recently bought and sold shares of AEM. Brighton Jones LLC grew its position in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares during the period. D.A. Davidson & CO. grew its position in Agnico Eagle Mines by 11.8% in the 4th quarter. D.A. Davidson & CO. now owns 13,676 shares of the mining company’s stock valued at $1,070,000 after purchasing an additional 1,440 shares during the period. Private Advisor Group LLC grew its position in Agnico Eagle Mines by 6.1% in the 4th quarter. Private Advisor Group LLC now owns 9,626 shares of the mining company’s stock valued at $753,000 after purchasing an additional 550 shares during the period. Union Bancaire Privee UBP SA bought a new position in Agnico Eagle Mines during the 4th quarter valued at $602,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Agnico Eagle Mines by 86.6% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 8,292 shares of the mining company’s stock valued at $649,000 after acquiring an additional 3,848 shares in the last quarter. Institutional investors and hedge funds 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.