Analysts Set Agnico Eagle Mines Limited (NYSE:AEM) Price Target at $90.50

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $90.50.

Several research analysts have recently commented on the company. Scotiabank lifted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $98.34 on Monday. The firm has a market cap of $49.39 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 0.62 and a beta of 1.10. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $85.07 and its two-hundred day moving average is $82.30. Agnico Eagle Mines has a 52-week low of $44.37 and a 52-week high of $100.07.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after buying an additional 4,562,005 shares in the last quarter. AGF Management Ltd. grew its stake in Agnico Eagle Mines by 184.6% during the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after acquiring an additional 905,328 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after purchasing an additional 817,240 shares during the period. Van ECK Associates Corp increased its holdings in shares of Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Agnico Eagle Mines by 262.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock worth $85,413,000 after purchasing an additional 767,912 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.