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

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been given a consensus rating of “Buy” by the seventeen analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and six have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $201.60.

Several equities analysts have issued reports on the company. TD Securities boosted their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Citigroup upped their price objective on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 30th. Bank of America boosted their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, CIBC upped their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $25,000. True Wealth Design LLC boosted its position in Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines during the second quarter worth $29,000. City State Bank grew its holdings in 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 last quarter. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Down 6.7%

Shares of Agnico Eagle Mines stock opened at $170.92 on Thursday. Agnico Eagle Mines has a one year low of $76.91 and a one year high of $187.50. The company has a market cap of $85.76 billion, a P/E ratio of 24.95, a PEG ratio of 0.66 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. The firm has a fifty day moving average of $167.41 and a two-hundred day moving average of $149.92.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same period in the previous year, the business posted $1.14 earnings per share. On average, analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.