Agnico Eagle Mines (NYSE:AEM) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price raised by equities researchers at Jefferies Financial Group from $85.00 to $88.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 5.50% from the stock’s previous close.

AEM has been the topic of several other research reports. Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. UBS Group assumed coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.11.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $83.41 on Tuesday. The stock’s fifty day moving average is $81.88 and its two-hundred day moving average is $79.42. The company has a market capitalization of $41.86 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08. 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 52 week low of $44.37 and a 52 week high of $89.00.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds have recently made changes to their positions in the stock. CWA Asset Management Group LLC lifted its stake in shares of Agnico Eagle Mines by 6.1% during the 4th quarter. CWA Asset Management Group LLC now owns 60,143 shares of the mining company’s stock worth $4,704,000 after purchasing an additional 3,475 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth $26,000. Confluence Investment Management LLC lifted its stake in shares of Agnico Eagle Mines by 1.8% during the 4th quarter. Confluence Investment Management LLC now owns 20,408 shares of the mining company’s stock worth $1,596,000 after purchasing an additional 351 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Agnico Eagle Mines by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 21,822 shares of the mining company’s stock worth $1,760,000 after purchasing an additional 302 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Agnico Eagle Mines by 22.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 431,200 shares of the mining company’s stock worth $34,736,000 after purchasing an additional 78,700 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other 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.