Agnico Eagle Mines Limited (NYSE:AEM) Receives $136.90 Consensus Target Price from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been given a consensus recommendation of “Buy” by the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and five have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $136.90.

Several equities research analysts have recently weighed in on the stock. Lake Street Capital reiterated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Raymond James Financial upgraded shares of Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. Royal Bank Of Canada increased their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. TD Securities upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, CIBC reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $137.0970 on Friday. The company has a market capitalization of $68.94 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 0.95 and a beta of 0.44. Agnico Eagle Mines has a twelve month low of $75.17 and a twelve month high of $138.02. The stock has a fifty day simple moving average of $125.39 and a 200 day simple moving average of $114.81. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.Agnico Eagle Mines’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. Sell-side analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Trading of Agnico Eagle Mines

Several large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $3,196,000. Newbridge Financial Services Group Inc. grew its position in shares of Agnico Eagle Mines by 343.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 5,378 shares of the mining company’s stock worth $640,000 after buying an additional 4,165 shares during the period. Marex Group plc acquired a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $1,165,000. State of Wyoming grew its position in shares of Agnico Eagle Mines by 69.5% during the 2nd quarter. State of Wyoming now owns 9,290 shares of the mining company’s stock worth $1,105,000 after buying an additional 3,809 shares during the period. Finally, Liontrust Investment Partners LLP grew its position in shares of Agnico Eagle Mines by 146.8% during the 2nd quarter. Liontrust Investment Partners LLP now owns 151,451 shares of the mining company’s stock worth $18,012,000 after buying an additional 90,076 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.