Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $81.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target raised by research analysts at CIBC from $80.00 to $81.00 in a research note issued on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the mining company’s stock. CIBC’s price objective suggests a potential upside of 26.09% from the company’s current price.

Several other equities research analysts have also commented on AEM. Raymond James boosted their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. TD Securities reduced their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, Citigroup boosted their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.63.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $64.24 on Tuesday. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $67.80. The company has a 50-day moving average price of $57.55 and a 200 day moving average price of $52.90. The company has a market cap of $32.03 billion, a P/E ratio of 67.62, a PEG ratio of 0.88 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 (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. Research analysts predict that Agnico Eagle Mines will post 2.81 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in 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 worth $1,264,791,000 after purchasing an additional 1,995,127 shares in the last quarter. FIL Ltd grew its holdings in shares of Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after buying an additional 2,831,794 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Agnico Eagle Mines by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock worth $963,320,000 after buying an additional 338,264 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Agnico Eagle Mines by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock valued at $626,981,000 after buying an additional 152,166 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Agnico Eagle Mines by 0.4% during the fourth quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after buying an additional 41,068 shares during the period. 68.34% of the stock is currently 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.