Agnico Eagle Mines (NYSE:AEM) Coverage Initiated by Analysts at UBS Group

Equities researchers at UBS Group assumed coverage on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a research report issued on Tuesday, Benzinga reports. The firm set a “buy” rating and a $95.00 price target on the mining company’s stock. UBS Group’s price objective would suggest a potential upside of 15.80% from the company’s previous close.

A number of other analysts have also weighed in on the stock. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. CIBC upped their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets lowered their price objective on shares of 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 equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.67.

Agnico Eagle Mines Stock Performance

Shares of AEM traded down $0.52 during mid-day trading on Tuesday, hitting $82.04. The stock had a trading volume of 722,412 shares, compared to its average volume of 2,699,264. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The firm has a market cap of $41.04 billion, a P/E ratio of 86.36, a PEG ratio of 0.77 and a beta of 1.10. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $83.95. The business has a fifty day moving average price of $77.47 and a 200-day moving average price of $68.20.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. Agnico Eagle Mines’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, equities research analysts expect that Agnico Eagle Mines will post 3.65 EPS for the current year.

Institutional Trading of Agnico Eagle Mines

Several institutional investors and hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC grew its position in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in Agnico Eagle Mines in the second quarter worth approximately $32,000. Stephens Consulting LLC acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at approximately $30,000. Janiczek Wealth Management LLC lifted its position in shares of Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after purchasing an additional 569 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its stake in Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after purchasing an additional 350 shares during the last quarter. 68.34% of the stock is currently owned by 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.