Agnico Eagle Mines (NYSE:AEM) Reaches New 12-Month High – Should You Buy?

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $201.95 and last traded at $196.9940, with a volume of 3070091 shares changing hands. The stock had previously closed at $199.08.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Sunday. Bank of America boosted their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Five equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus price target of $205.90.

Agnico Eagle Mines Price Performance

The company’s fifty day moving average is $172.65 and its two-hundred day moving average is $154.79. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $98.63 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company posted $1.14 EPS. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors have recently modified their holdings of the stock. Clarius Group LLC increased its stake in shares of Agnico Eagle Mines by 30.2% in the 4th quarter. Clarius Group LLC now owns 2,274 shares of the mining company’s stock valued at $386,000 after acquiring an additional 528 shares during the last quarter. Baron Wealth Management LLC grew its holdings in Agnico Eagle Mines by 3.2% during the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company’s stock valued at $319,000 after purchasing an additional 59 shares during the period. Worth Asset Management LLC bought a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $300,000. Fairvoy Private Wealth LLC raised its holdings in Agnico Eagle Mines by 2.1% in the fourth quarter. Fairvoy Private Wealth LLC now owns 8,757 shares of the mining company’s stock worth $1,485,000 after purchasing an additional 184 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter worth $185,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.