Jefferies Financial Group Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $85.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price boosted by Jefferies Financial Group from $68.00 to $85.00 in a report issued on Friday morning, Benzinga reports. They currently have a hold rating on the mining company’s stock.

Other equities analysts have also issued research reports about the stock. TD Securities increased their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a buy rating in a report on Friday, August 2nd. BMO Capital Markets dropped their price target on Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating for the company in a research note on Thursday, June 20th. Scotiabank increased their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a sector outperform rating in a research report on Monday, August 19th. StockNews.com raised Agnico Eagle Mines from a hold rating to a buy rating in a report on Thursday, June 27th. Finally, CIBC upped their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an outperformer rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $86.78.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $78.82 on Friday. Agnico Eagle Mines has a 52-week low of $43.29 and a 52-week high of $85.14. The stock has a fifty day moving average of $79.62 and a 200 day moving average of $70.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The firm has a market capitalization of $39.43 billion, a price-to-earnings ratio of 82.97, a P/E/G ratio of 0.78 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, research analysts expect that Agnico Eagle Mines will post 3.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Stifel Financial Corp increased its holdings in Agnico Eagle Mines by 36.8% during the 4th quarter. Stifel Financial Corp now owns 133,352 shares of the mining company’s stock valued at $7,314,000 after purchasing an additional 35,838 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Agnico Eagle Mines by 10.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 50,683 shares of the mining company’s stock valued at $2,780,000 after buying an additional 4,676 shares during the period. Penn Mutual Asset Management LLC raised its holdings in shares of Agnico Eagle Mines by 14.9% during the fourth quarter. Penn Mutual Asset Management LLC now owns 26,150 shares of the mining company’s stock valued at $1,434,000 after acquiring an additional 3,400 shares in the last quarter. Ossiam lifted its stake in Agnico Eagle Mines by 30.5% in the fourth quarter. Ossiam now owns 89,062 shares of the mining company’s stock worth $4,907,000 after acquiring an additional 20,832 shares during the period. Finally, Cheviot Value Management LLC boosted its holdings in Agnico Eagle Mines by 1.7% in the fourth quarter. Cheviot Value Management LLC now owns 479,138 shares of the mining company’s stock valued at $26,467,000 after acquiring an additional 7,964 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.