Agnico Eagle Mines Limited (NYSE:AEM) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned an average rating of “Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $184.50.

Several research firms have commented on AEM. Raymond James Financial increased their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research report on Friday, October 24th. Citigroup lifted their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, CIBC raised their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th.

Agnico Eagle Mines Stock Up 1.2%

Shares of NYSE AEM opened at $161.28 on Wednesday. Agnico Eagle Mines has a 1 year low of $75.17 and a 1 year high of $187.50. The firm has a 50-day simple moving average of $161.41 and a two-hundred day simple moving average of $136.16. The company has a market cap of $81.04 billion, a P/E ratio of 23.54, a PEG ratio of 0.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same quarter last year, the business posted $1.14 EPS. Research analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently modified their holdings of the company. DAVENPORT & Co LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter worth approximately $226,000. Bank of New York Mellon Corp increased its stake in shares of Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company’s stock valued at $52,613,000 after acquiring an additional 5,717 shares during the period. Private Trust Co. NA raised its holdings in Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Hussman Strategic Advisors Inc. raised its holdings in Agnico Eagle Mines by 87.5% during the second quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock worth $18,196,000 after purchasing an additional 71,400 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its position in Agnico Eagle Mines by 32.6% in the first quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock worth $55,214,000 after purchasing an additional 125,223 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.