Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $78.00 at TD Securities

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective raised by TD Securities from $74.00 to $78.00 in a report published on Tuesday, BayStreet.CA reports. TD Securities currently has a buy rating on the mining company’s stock.

Several other research analysts have also issued reports on AEM. Citigroup raised their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a buy rating in a research note on Tuesday. CIBC lifted their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an outperform rating in a report on Tuesday. Raymond James increased their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an outperform rating in a research note on Friday, January 12th. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a hold rating in a research report on Monday, April 22nd. Finally, National Bank Financial reaffirmed an outperform overweight rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $69.63.

Agnico Eagle Mines Stock Down 0.1 %

Shares of AEM opened at $65.06 on Tuesday. The business’s fifty day moving average price is $58.20 and its two-hundred day moving average price is $53.07. The firm has a market capitalization of $32.44 billion, a price-to-earnings ratio of 68.48, a PEG ratio of 0.75 and a beta of 1.04. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $67.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. On average, analysts predict that Agnico Eagle Mines will post 3.23 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio is currently 168.42%.

Institutional Trading of Agnico Eagle Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Easterly Investment Partners LLC grew its position in shares of Agnico Eagle Mines by 68.8% in the 1st quarter. Easterly Investment Partners LLC now owns 22,633 shares of the mining company’s stock valued at $1,350,000 after acquiring an additional 9,223 shares during the period. GSA Capital Partners LLP acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at about $878,000. Cliftonlarsonallen Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the first quarter worth about $698,000. Financial Counselors Inc. increased its position in Agnico Eagle Mines by 11.2% during the first quarter. Financial Counselors Inc. now owns 5,716 shares of the mining company’s stock worth $341,000 after buying an additional 576 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its stake in Agnico Eagle Mines by 9.2% in the first quarter. Chase Investment Counsel Corp now owns 57,227 shares of the mining company’s stock valued at $3,413,000 after buying an additional 4,810 shares during the period. 68.34% of the stock is owned by institutional investors.

About Agnico Eagle Mines

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.