Analysts Set Agnico Eagle Mines Limited (NYSE:AEM) Price Target at $230.64

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $234.9091.

AEM has been the topic of several recent analyst reports. Scotiabank reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research report on Wednesday. Jefferies Financial Group set a $189.00 price target on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds have recently bought and sold shares of the company. Capital World Investors grew its position in Agnico Eagle Mines by 2.8% during the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after acquiring an additional 572,473 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Agnico Eagle Mines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock valued at $3,557,772,000 after purchasing an additional 309,717 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after purchasing an additional 3,062,705 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after purchasing an additional 602,489 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Agnico Eagle Mines by 1.7% in the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after purchasing an additional 165,263 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $224.34 on Friday. The company’s 50 day simple moving average is $193.72 and its two-hundred day simple moving average is $170.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.31. Agnico Eagle Mines has a 1 year low of $92.11 and a 1 year high of $225.00. The stock has a market capitalization of $112.40 billion, a PE ratio of 25.26, a P/E/G ratio of 0.51 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.13. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business’s quarterly revenue was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 18.02%.

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.