Agnico Eagle Mines Limited (NYSE:AEM) Given Average Rating of “Moderate Buy” by Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $236.0833.

Several equities research analysts have issued reports on AEM shares. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Barclays started coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price on the stock. Finally, UBS Group lowered their target price on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $183.56 on Friday. The company’s fifty day moving average price is $195.01 and its 200 day moving average price is $194.38. Agnico Eagle Mines has a 1 year low of $114.60 and a 1 year high of $255.24. The stock has a market capitalization of $91.87 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.99 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the company posted $1.53 EPS. The firm’s quarterly revenue was up 66.1% on a year-over-year basis. As a group, equities research analysts anticipate that Agnico Eagle Mines will post 13.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acumen Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $26,000. MCF Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at about $34,000. Abound Wealth Management boosted its position in shares of Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $35,000. Finally, Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.