Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $78.00 at TD Securities

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective boosted by TD Securities from $74.00 to $78.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the mining company’s stock.

A number of other analysts have also recently weighed in on AEM. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a hold rating in a research note on Monday, April 22nd. Citigroup increased their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a buy rating in a research note on Tuesday. CIBC boosted their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an outperform rating in a research report on Tuesday. National Bank Financial reaffirmed an outperform overweight rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, Raymond James lifted their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an outperform rating in a research note on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $69.63.

Agnico Eagle Mines Stock Down 3.7 %

Shares of NYSE AEM opened at $63.35 on Tuesday. The business has a 50-day moving average price of $57.26 and a 200 day moving average price of $52.80. The stock has a market cap of $31.59 billion, a PE ratio of 66.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The company had revenue of $1.83 billion during 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 firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Equities research analysts forecast that Agnico Eagle Mines will post 2.77 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio (DPR) is 168.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blair William & Co. IL boosted its position in shares of Agnico Eagle Mines by 5.9% during the 3rd quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock worth $1,078,000 after purchasing an additional 1,313 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Agnico Eagle Mines by 15.5% in the fourth quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after purchasing an additional 48,782 shares during the period. Wellington Management Group LLP increased its holdings in Agnico Eagle Mines by 5.7% in the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after buying an additional 34,072 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $41,610,000. Finally, Sprott Inc. boosted its stake in shares of Agnico Eagle Mines by 4.1% during the 3rd quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock worth $65,249,000 after acquiring an additional 55,032 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.