Agnico Eagle Mines (NYSE:AEM) Stock Price Expected to Rise, CIBC Analyst Says

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective upped by analysts at CIBC from $134.00 to $165.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperformer” rating on the mining company’s stock. CIBC’s price target points to a potential upside of 37.84% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Lake Street Capital restated a “buy” rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Cfra Research upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, April 25th. National Bankshares reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Bank of America boosted their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Finally, 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. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $136.90.

Agnico Eagle Mines Stock Up 0.5%

Shares of NYSE:AEM opened at $119.70 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 2.37 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $60.19 billion, a P/E ratio of 25.47, a P/E/G ratio of 0.89 and a beta of 0.50. Agnico Eagle Mines has a 52-week low of $69.72 and a 52-week high of $126.76. The stock’s fifty day simple moving average is $117.89 and its 200-day simple moving average is $106.40.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.14. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. During the same period in the previous year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Agnico Eagle Mines during the first quarter valued at approximately $26,000. Private Trust Co. NA lifted its position in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at $34,000. Finally, Coppell Advisory Solutions LLC grew its holdings in Agnico Eagle Mines by 235.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company’s stock valued at $37,000 after purchasing an additional 329 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other 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.