Agnico Eagle Mines Limited (NYSE:AEM) Receives $124.40 Average Price Target from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been given an average rating of “Buy” by the twelve analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and four have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $124.40.

AEM has been the subject of a number of research reports. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Citigroup upped their price target on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. UBS Group boosted their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Finally, BMO Capital Markets started coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $181.00 price objective for the company.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company’s stock worth $618,000 after acquiring an additional 85 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Agnico Eagle Mines by 31.1% in the first quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company’s stock valued at $40,000 after buying an additional 87 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Agnico Eagle Mines by 2.0% during the 4th quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company’s stock worth $428,000 after buying an additional 106 shares in the last quarter. Duncker Streett & Co. Inc. grew its holdings in Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after acquiring an additional 112 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in Agnico Eagle Mines by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company’s stock valued at $543,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $106.39 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $53.54 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. The firm has a 50-day moving average price of $110.63 and a two-hundred day moving average price of $95.42. Agnico Eagle Mines has a twelve month low of $63.01 and a twelve month high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $0.76 EPS. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. As a group, research analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.50%. Agnico Eagle Mines’s dividend payout ratio is currently 34.04%.

Agnico Eagle Mines Company Profile

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.