Royal Bank of Canada Issues Positive Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective raised by investment analysts at Royal Bank of Canada from $96.00 to $105.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the mining company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.99% from the company’s current price.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus price target of $92.75.

Agnico Eagle Mines Price Performance

AEM traded down $1.44 during trading on Tuesday, hitting $99.07. The company’s stock had a trading volume of 1,156,323 shares, compared to its average volume of 1,887,236. The firm’s 50 day moving average price is $85.42 and its two-hundred day moving average price is $82.60. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 12 month low of $44.37 and a 12 month high of $101.45. The stock has a market capitalization of $49.76 billion, a price-to-earnings ratio of 49.53, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its holdings in shares of Agnico Eagle Mines by 859.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Agnico Eagle Mines in the fourth quarter worth approximately $29,000. FSC Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines in the third quarter worth approximately $32,000. Finally, Fifth Third Bancorp grew its holdings in shares of Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after purchasing an additional 260 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Company Profile

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.