Agnico Eagle Mines Limited (NYSE:AEM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $86.78.

Several equities analysts have recently commented on AEM shares. Scotiabank raised their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. TD Securities raised their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. CIBC raised their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada raised their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th.

Institutional Trading of Agnico Eagle Mines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Agnico Eagle Mines by 2.2% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock valued at $472,000 after buying an additional 158 shares in the last quarter. Banque Cantonale Vaudoise increased its position in shares of Agnico Eagle Mines by 2.8% in the first quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock valued at $369,000 after buying an additional 169 shares in the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Agnico Eagle Mines by 0.3% during the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after purchasing an additional 189 shares in the last quarter. Lombard Odier Asset Management Europe Ltd increased its position in shares of Agnico Eagle Mines by 0.4% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock worth $3,248,000 after purchasing an additional 190 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its position in shares of Agnico Eagle Mines by 4.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock worth $269,000 after purchasing an additional 192 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Down 0.8 %

NYSE AEM opened at $78.20 on Tuesday. The company has a market capitalization of $39.12 billion, a P/E ratio of 82.32, a P/E/G ratio of 0.78 and a beta of 1.10. The stock has a 50 day moving average price of $79.70 and a 200-day moving average price of $71.08. Agnico Eagle Mines has a one year low of $44.37 and a one year high of $85.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts predict that Agnico Eagle Mines will post 3.73 EPS for the current fiscal year.

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.