Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) had its price target increased by analysts at JPMorgan Chase & Co. from $190.00 to $193.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 16.87% from the stock’s previous close.
A number of other brokerages have also recently weighed in on AEM. Weiss Ratings raised Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 14th. RBC Dominion Securities set a $225.00 target price on Agnico Eagle Mines and gave the company a “sector perform” rating in a research report on Thursday, October 22nd. Barclays raised their target price on shares of Agnico Eagle Mines from $188.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Canadian Imperial Bank of Commerce set a $239.00 target price on shares of Agnico Eagle Mines in a research note on Friday, October 16th. Finally, Freedom Broker cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating and lowered their price target for the company from $255.00 to $212.00 in a research report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.20.
Read Our Latest Stock Analysis on AEM
Agnico Eagle Mines Trading Down 6.1%
Shares of Agnico Eagle Mines stock traded down $10.78 on Friday, hitting $165.14. 4,898,097 shares of the company’s stock traded hands, compared to its average volume of 2,618,579. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The stock has a market capitalization of $83.72 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.71 and a beta of 0.64. The firm’s 50-day moving average price is $193.66 and its two-hundred day moving average price is $189.62. Agnico Eagle Mines has a one year low of $134.38 and a one year high of $255.24.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last posted its earnings results on Wednesday, October 28th. The mining company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.15. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. Agnico Eagle Mines had a return on equity of 22.31% and a net margin of 41.01%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 earnings per share. On average, research analysts expect that Agnico Eagle Mines will post 11.47 EPS for the current fiscal year.
Institutional Investors Weigh In On Agnico Eagle Mines
A number of institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC lifted its holdings in shares of 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 acquiring an additional 120 shares during the period. Markowski Investments acquired a new stake in Agnico Eagle Mines in the second quarter valued at $29,000. Sawyer & Company Inc acquired a new stake in Agnico Eagle Mines in the 3rd quarter valued at $35,000. Dunhill Financial LLC purchased a new position in Agnico Eagle Mines in the second quarter worth $31,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at approximately $32,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.
Agnico Eagle Mines Company Profile
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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