Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High – Still a Buy?

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $158.09 and last traded at $158.05, with a volume of 460455 shares changing hands. The stock had previously closed at $154.38.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AEM shares. Lake Street Capital reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. National Bankshares reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note 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 stock a “buy” rating in a research note on Monday, June 23rd. TD Securities raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, CIBC reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Five investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $141.40.

Agnico Eagle Mines Trading Up 4.5%

The business’s 50-day simple moving average is $136.93 and its two-hundred day simple moving average is $121.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The stock has a market capitalization of $81.10 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.08 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The business’s revenue was up 35.6% compared to the same quarter last year. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC acquired a new stake in Agnico Eagle Mines during the 1st quarter worth about $226,000. Bank of New York Mellon Corp boosted its position in Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company’s stock worth $52,613,000 after purchasing an additional 5,717 shares during the period. Private Trust Co. NA boosted its position in shares of Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock valued at $31,000 after acquiring an additional 232 shares during the period. Golden State Wealth Management LLC bought a new position in Agnico Eagle Mines in the first quarter worth $34,000. Finally, OneDigital Investment Advisors LLC bought a new position in Agnico Eagle Mines in the first quarter worth $234,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.