Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High – What’s Next?

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM)’s share price hit a new 52-week high on Friday . The company traded as high as $190.39 and last traded at $190.1410, with a volume of 342306 shares. The stock had previously closed at $186.47.

Analysts Set New Price Targets

Several research firms have commented on AEM. Weiss Ratings reissued a “buy (a-)” rating on shares of Agnico Eagle Mines in a research report on Monday, December 29th. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a report on Sunday, December 7th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. CIBC increased their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Finally, UBS Group lifted their price objective on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. Six equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $201.60.

Agnico Eagle Mines Stock Performance

The company has a fifty day moving average of $169.80 and a two-hundred day moving average of $152.47. The stock has a market capitalization of $95.82 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31.

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

Institutional Trading of Agnico Eagle Mines

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Advisory Services LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at about $25,000. True Wealth Design LLC boosted its stake in Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the second quarter valued at approximately $29,000. City State Bank grew its holdings in shares of Agnico Eagle Mines by 69.2% during 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 raised its position in shares of Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

About Agnico Eagle Mines

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.