Agnico Eagle Mines (NYSE:AEM) Given New $81.00 Price Target at Scotiabank

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target increased by Scotiabank from $71.00 to $81.00 in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have a sector outperform rating on the mining company’s stock.

A number of other research firms have also recently commented on AEM. CIBC upped their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the company an outperform rating in a research report on Tuesday, April 30th. Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a hold rating in a research report on Monday, April 22nd. Citigroup upped their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. BMO Capital Markets lifted their price objective on Agnico Eagle Mines from $78.00 to $79.00 and gave the company an outperform rating in a research note on Tuesday, May 21st. Finally, TD Securities increased their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of Moderate Buy and a consensus price target of $72.22.

Agnico Eagle Mines Stock Up 0.6 %

Shares of NYSE AEM opened at $67.71 on Thursday. The company has a market capitalization of $33.81 billion, a P/E ratio of 71.27, a P/E/G ratio of 0.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The company has a 50 day simple moving average of $63.20 and a 200-day simple moving average of $55.33. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $71.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, equities research analysts predict that Agnico Eagle Mines will post 3.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC purchased a new stake in Agnico Eagle Mines during the 1st quarter worth about $293,000. Cetera Investment Advisers purchased a new stake in shares of Agnico Eagle Mines during the first quarter worth approximately $2,517,000. Western Pacific Wealth Management LP acquired a new stake in Agnico Eagle Mines in the first quarter valued at approximately $50,000. Tidal Investments LLC lifted its stake in Agnico Eagle Mines by 87.8% in the first quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock worth $1,195,000 after acquiring an additional 9,628 shares during the last quarter. Finally, Bayesian Capital Management LP grew its holdings in Agnico Eagle Mines by 151.3% during the 1st quarter. Bayesian Capital Management LP now owns 84,200 shares of the mining company’s stock worth $5,023,000 after acquiring an additional 50,700 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

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.