Agnico Eagle Mines Limited (NYSE:AEM) Receives $184.50 Consensus Target Price from Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned a consensus recommendation of “Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $184.50.

Several equities analysts have commented on AEM shares. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday, October 23rd. Raymond James Financial increased their target price on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Bank of America lifted their price target on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a report on Friday, October 24th. Finally, CIBC raised their price objective 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, October 10th.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new position in Agnico Eagle Mines during the second quarter valued at about $938,644,000. TD Asset Management Inc increased its holdings in shares of Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after acquiring an additional 2,709,005 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after acquiring an additional 2,319,131 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Agnico Eagle Mines by 48.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after purchasing an additional 1,474,385 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Agnico Eagle Mines by 53.1% during the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after purchasing an additional 1,444,746 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $161.28 on Wednesday. The company has a market cap of $81.04 billion, a PE ratio of 23.54, a P/E/G ratio of 0.70 and a beta of 0.45. The company has a fifty day moving average price of $161.41 and a two-hundred day moving average price of $135.94. Agnico Eagle Mines has a 12 month low of $75.17 and a 12 month high of $187.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the business posted $1.14 EPS. 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.