Agnico Eagle Mines Limited (NYSE:AEM) Receives $162.10 Consensus Target Price from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned an average recommendation of “Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and six have issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $162.10.

A number of equities analysts have issued reports on the company. Raymond James Financial increased their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday. CIBC boosted their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday. National Bankshares restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Agnico Eagle Mines in a research report on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AEM. Fairvoy Private Wealth LLC increased its holdings in Agnico Eagle Mines by 2.1% during the 3rd quarter. Fairvoy Private Wealth LLC now owns 8,573 shares of the mining company’s stock worth $1,445,000 after purchasing an additional 180 shares in the last quarter. AdvisorNet Financial Inc lifted its position in Agnico Eagle Mines by 12.9% during the third quarter. AdvisorNet Financial Inc now owns 700 shares of the mining company’s stock valued at $118,000 after purchasing an additional 80 shares during the last quarter. Astoria Portfolio Advisors LLC. bought a new position in Agnico Eagle Mines during the third quarter valued at approximately $250,000. Louisbourg Investments Inc. grew its position in Agnico Eagle Mines by 0.7% during the 3rd quarter. Louisbourg Investments Inc. now owns 26,725 shares of the mining company’s stock worth $4,500,000 after acquiring an additional 175 shares during the last quarter. Finally, Addenda Capital Inc. grew its stake in shares of Agnico Eagle Mines by 2.3% in the third quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock worth $122,076,000 after purchasing an additional 15,965 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Performance

AEM stock opened at $172.11 on Friday. The firm has a market cap of $86.54 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.09 and a beta of 0.46. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $150.38 and a 200-day moving average price of $128.96. Agnico Eagle Mines has a 1-year low of $75.17 and a 1-year high of $172.29.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, equities research analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

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.