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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has received a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $72.22.

Several brokerages have recently issued reports on AEM. Citigroup increased their price objective on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $58.00 to $59.00 and gave the stock a “hold” rating in a research note on Thursday. CIBC increased their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Finally, Scotiabank increased their target price on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in shares of Agnico Eagle Mines by 9.5% during the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after acquiring an additional 1,995,127 shares during the period. FIL Ltd lifted its position in shares of Agnico Eagle Mines by 16.4% during the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after acquiring an additional 2,831,794 shares during the period. Vanguard Group Inc. lifted its position in shares of Agnico Eagle Mines by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock valued at $963,320,000 after acquiring an additional 338,264 shares during the period. Mackenzie Financial Corp lifted its position in shares of Agnico Eagle Mines by 0.4% during the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after acquiring an additional 41,068 shares during the period. Finally, Capital World Investors increased its stake in shares of Agnico Eagle Mines by 0.8% during the 1st quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock worth $582,529,000 after purchasing an additional 79,275 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 1.3 %

NYSE:AEM opened at $65.23 on Friday. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average is $66.01 and its two-hundred day moving average is $57.52. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $71.50. The stock has a market capitalization of $32.63 billion, a price-to-earnings ratio of 68.66, a price-to-earnings-growth ratio of 0.73 and a beta of 1.11.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $0.57 earnings per share. Research analysts anticipate that Agnico Eagle Mines will post 3.16 EPS for the current year.

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.