Agnico Eagle Mines (NYSE:AEM) Stock Price Target Raised at JPMorgan Chase & Co.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target increased by stock analysts at JPMorgan Chase & Co. from $179.00 to $190.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the mining company’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 1.59% from the company’s previous close.

AEM has been the topic of several other reports. Scotiabank lowered their price objective on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Bank of America cut their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $239.00 target price on Agnico Eagle Mines in a report on Friday. UBS Group raised their target price on Agnico Eagle Mines from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. Finally, Scotia decreased their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 3rd. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.23.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM traded up $0.77 during trading on Wednesday, hitting $187.02. The company had a trading volume of 218,148 shares, compared to its average volume of 2,630,618. The stock has a fifty day simple moving average of $195.42 and a two-hundred day simple moving average of $181.42. Agnico Eagle Mines has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The firm has a market capitalization of $94.81 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, research analysts expect that Agnico Eagle Mines will post 11.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its position in Agnico Eagle Mines by 0.9% during the third quarter. Quadrant Capital Group LLC now owns 10,287 shares of the mining company’s stock worth $1,909,000 after buying an additional 93 shares in the last quarter. Uncommon Cents Investing Inc grew its holdings in Agnico Eagle Mines by 4.6% in the 3rd quarter. Uncommon Cents Investing Inc now owns 21,004 shares of the mining company’s stock valued at $3,849,000 after buying an additional 930 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Agnico Eagle Mines by 25.0% in the third quarter. Integrated Advisors Network LLC now owns 5,781 shares of the mining company’s stock valued at $1,059,000 after purchasing an additional 1,156 shares during the period. 55 North Private Wealth LLC purchased a new stake in shares of Agnico Eagle Mines in the third quarter valued at about $221,000. Finally, Jeppson Wealth Management LLC increased its position in Agnico Eagle Mines by 37.3% during the third quarter. Jeppson Wealth Management LLC now owns 3,327 shares of the mining company’s stock worth $610,000 after purchasing an additional 903 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 gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.