CIBC Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $101.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target boosted by stock analysts at CIBC from $81.00 to $101.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperformer” rating on the mining company’s stock. CIBC’s target price indicates a potential upside of 38.13% from the stock’s current price.

Several other analysts also recently commented on AEM. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. TD Securities increased their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Citigroup raised their price objective on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, BMO Capital Markets reduced their price target on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.44.

Agnico Eagle Mines Trading Up 4.2 %

Shares of AEM stock traded up $2.92 during trading hours on Wednesday, reaching $73.12. The company had a trading volume of 2,373,184 shares, compared to its average volume of 2,913,530. The company has a 50 day moving average of $66.87 and a 200 day moving average of $58.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The firm has a market cap of $36.58 billion, a price-to-earnings ratio of 77.00, a P/E/G ratio of 0.78 and a beta of 1.06. Agnico Eagle Mines has a 1-year low of $43.22 and a 1-year high of $73.27.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. On average, equities research analysts anticipate that Agnico Eagle Mines will post 3.16 EPS for the current year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds have recently bought and sold shares of AEM. Integrated Wealth Concepts LLC lifted its position in Agnico Eagle Mines by 54.3% during the third quarter. Integrated Wealth Concepts LLC now owns 27,952 shares of the mining company’s stock worth $1,270,000 after acquiring an additional 9,842 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines in the third quarter valued at approximately $261,000. Wellington Management Group LLP raised its position in shares of 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. Vanguard Group Inc. raised its position in shares of Agnico Eagle Mines by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock valued at $782,855,000 after buying an additional 278,647 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $55,000. 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.