Agnico Eagle Mines Limited (NYSE:AEM) Receives Consensus Rating of “Buy” from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has received a consensus rating of “Buy” from the seventeen brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and six have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $175.20.

A number of brokerages have weighed in on AEM. TD Securities lifted their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Citigroup lifted their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday. National Bankshares reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Raymond James Financial lifted their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at approximately $29,000. Finally, City State Bank boosted its stake in shares of Agnico Eagle Mines by 69.2% in the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $174.68 on Friday. Agnico Eagle Mines has a 1-year low of $75.17 and a 1-year high of $187.50. The stock has a market cap of $87.83 billion, a PE ratio of 29.71, a P/E/G ratio of 1.23 and a beta of 0.46. The firm has a 50-day simple moving average of $153.76 and a two-hundred day simple moving average of $130.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. As a group, analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Company Profile

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.