Agnico Eagle Mines (NYSE:AEM) Sets New 12-Month High at $85.14

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $85.14 and last traded at $84.93, with a volume of 577553 shares traded. The stock had previously closed at $84.00.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. CIBC increased their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. BMO Capital Markets cut their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Finally, Scotiabank boosted their target price on shares of 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $84.67.

Agnico Eagle Mines Stock Performance

The stock has a market capitalization of $42.06 billion, a P/E ratio of 88.51, a PEG ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $78.84 and a 200 day moving average of $69.66.

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

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds have recently modified their holdings of the stock. SCP Investment LP acquired a new position in Agnico Eagle Mines during the fourth quarter worth $292,000. Corient Private Wealth LLC increased its position in shares of Agnico Eagle Mines by 18.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,110 shares of the mining company’s stock worth $1,158,000 after purchasing an additional 3,292 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Agnico Eagle Mines by 2.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 53,471 shares of the mining company’s stock valued at $2,933,000 after purchasing an additional 1,395 shares during the last quarter. Advisory Services Network LLC boosted its position in Agnico Eagle Mines by 1.9% in the fourth quarter. Advisory Services Network LLC now owns 19,974 shares of the mining company’s stock valued at $1,096,000 after buying an additional 380 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Agnico Eagle Mines by 81.5% during the fourth quarter. Parallel Advisors LLC now owns 1,445 shares of the mining company’s stock worth $79,000 after buying an additional 649 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

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.