Agnico Eagle Mines (NYSE:AEM) Reaches New 12-Month High – Here’s What Happened

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $209.58 and last traded at $208.9410, with a volume of 3284187 shares. The stock had previously closed at $197.48.

Wall Street Analyst Weigh In

AEM has been the subject of several analyst reports. Bank of America lifted their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research report on Sunday, December 7th. Finally, Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Five analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Buy” and a consensus target price of $211.70.

Agnico Eagle Mines Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The stock has a market cap of $104.61 billion, a P/E ratio of 30.50, a PEG ratio of 0.58 and a beta of 0.63. The stock has a 50-day simple moving average of $175.60 and a 200-day simple moving average of $157.35.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in shares of Agnico Eagle Mines by 6.0% during the 4th quarter. Signaturefd LLC now owns 11,443 shares of the mining company’s stock valued at $1,940,000 after acquiring an additional 648 shares in the last quarter. Ascent Group LLC boosted its stake in shares of Agnico Eagle Mines by 16.9% during the fourth quarter. Ascent Group LLC now owns 2,420 shares of the mining company’s stock valued at $410,000 after purchasing an additional 349 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Agnico Eagle Mines by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 13,915 shares of the mining company’s stock worth $2,359,000 after purchasing an additional 205 shares during the last quarter. Trust Co. of Toledo NA OH increased its stake in shares of Agnico Eagle Mines by 17.8% in the fourth quarter. Trust Co. of Toledo NA OH now owns 1,178 shares of the mining company’s stock valued at $200,000 after buying an additional 178 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Agnico Eagle Mines by 364.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,878 shares of the mining company’s stock valued at $488,000 after buying an additional 2,259 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

About Agnico Eagle Mines

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.