Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $219.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price lifted by Scotiabank from $150.00 to $219.00 in a report released on Thursday morning, Marketbeat Ratings reports. They currently have a sector outperform rating on the mining company’s stock.

Other analysts also recently issued research reports about the stock. TD Securities boosted their target price on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. UBS Group boosted their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Raymond James Financial boosted their target price on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “buy (a)” rating on shares of Agnico Eagle Mines in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Five analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Down 0.8%

Shares of Agnico Eagle Mines stock opened at $163.43 on Thursday. The firm’s 50 day moving average price is $157.00 and its 200-day moving average price is $133.01. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines has a 52-week low of $75.17 and a 52-week high of $187.50. The company has a market cap of $82.18 billion, a P/E ratio of 27.79, a PEG ratio of 0.73 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC increased its stake in shares of Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Agnico Eagle Mines during the second quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines during the first quarter worth $26,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Agnico Eagle Mines during the first quarter worth $26,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.