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

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $236.0833.

Several equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce increased their price objective on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. UBS Group lowered their target price on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. TD raised their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th.

Agnico Eagle Mines Trading Down 1.6%

NYSE AEM opened at $173.08 on Thursday. Agnico Eagle Mines has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The stock has a 50 day simple moving average of $187.98 and a two-hundred day simple moving average of $194.62. The stock has a market cap of $86.42 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 3.86 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the business posted $1.53 EPS. The business’s revenue was up 66.1% on a year-over-year basis. On average, analysts forecast that Agnico Eagle Mines will post 13.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AEM. Acumen Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Abound Wealth Management lifted its stake in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after purchasing an additional 104 shares during the period. Lodestone Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Finally, Caitlin John LLC purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors 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.