Agnico Eagle Mines Limited (NYSE:AEM) Receives $236.08 Average PT from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $236.0833.

AEM has been the subject of several recent research reports. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Erste Group Bank lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Canadian Imperial Bank of Commerce lifted their price target on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $178.22 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $89.20 billion, a P/E ratio of 16.75, a P/E/G ratio of 3.81 and a beta of 0.58. The business has a fifty day simple moving average of $195.25 and a two-hundred day simple moving average of $194.45. Agnico Eagle Mines has a 12 month low of $114.60 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. On average, equities analysts forecast that Agnico Eagle Mines will post 13.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

Large investors have recently modified their holdings of the stock. Acumen Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $26,000. MCF Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter worth about $34,000. Lodestone Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $35,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $35,000. Finally, Abound Wealth Management raised its position in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.