BMO Capital Markets Increases Agnico Eagle Mines (TSE:AEM) Price Target to C$370.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its target price raised by investment analysts at BMO Capital Markets from C$350.00 to C$370.00 in a research note issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective indicates a potential upside of 35.80% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. National Bank Financial lifted their target price on shares of Agnico Eagle Mines from C$330.00 to C$345.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Stifel Nicolaus lifted their target price on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. TD Securities lifted their target price on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. set a C$337.00 target price on shares of Agnico Eagle Mines and gave the company a “neutral” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$323.20.

Agnico Eagle Mines Trading Down 2.2%

Shares of Agnico Eagle Mines stock opened at C$272.45 on Wednesday. Agnico Eagle Mines has a 1 year low of C$144.21 and a 1 year high of C$348.94. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.89 and a current ratio of 2.02. The company has a market capitalization of C$136.49 billion, a P/E ratio of 30.75, a PEG ratio of 22.97 and a beta of 1.87. The company’s fifty day moving average is C$294.46 and its two-hundred day moving average is C$263.64.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings data on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. The company had revenue of C$4.89 billion for the quarter. Analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Insider Buying and Selling at Agnico Eagle Mines

In other news, insider Guy Gosselin sold 4,947 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the completion of the transaction, the insider owned 31,381 shares of the company’s stock, valued at C$9,728,110. The trade was a 13.62% decrease in their ownership of the stock. 0.08% of the stock is currently owned by corporate insiders.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.