Agnico Eagle Mines Limited (NYSE:AEM – Get Free Report) (TSE:AEM) has been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $224.38.
AEM has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce set a $239.00 price target on shares of Agnico Eagle Mines in a research report on Friday. Zacks Research upgraded shares of Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Scotiabank dropped their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Bank of America dropped their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th.
View Our Latest Research Report on Agnico Eagle Mines
Agnico Eagle Mines Stock Down 0.8%
Shares of Agnico Eagle Mines stock opened at $186.08 on Wednesday. The stock has a 50-day moving average price of $195.42 and a 200 day moving average price of $181.42. The company has a market cap of $94.33 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.75 and a beta of 0.64. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 1 year low of $134.38 and a 1 year high of $255.24.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the company posted $1.94 EPS. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. As a group, analysts expect that Agnico Eagle Mines will post 11.56 EPS for the current fiscal year.
Hedge Funds Weigh In On Agnico Eagle Mines
Institutional investors and hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC boosted its position in Agnico Eagle Mines by 600.0% during the third quarter. Fortitude Family Office LLC now owns 140 shares of the mining company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Markowski Investments acquired a new position in Agnico Eagle Mines in the 2nd quarter worth about $29,000. Dunhill Financial LLC acquired a new position in Agnico Eagle Mines in the 2nd quarter worth about $31,000. Fiduciary Financial Advisors acquired a new position in Agnico Eagle Mines in the 2nd quarter worth about $32,000. Finally, Elevation Wealth Partners LLC purchased a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $42,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.
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.
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