Jefferies Financial Group Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $85.00

Agnico Eagle Mines (NYSE:AEMFree Report) (TSE:AEM) had its price target raised by Jefferies Financial Group from $68.00 to $85.00 in a research report sent to investors on Friday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the mining company’s stock.

A number of other equities analysts have also recently issued reports on AEM. BMO Capital Markets cut their price target on Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating on the stock in a report on Thursday, June 20th. CIBC raised their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an outperformer rating in a research note on Wednesday, July 10th. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a sector outperform rating in a report on Monday, August 19th. UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a buy rating and a $95.00 price target for the company. Finally, TD Securities raised their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a buy rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $86.78.

Read Our Latest Research Report on Agnico Eagle Mines

Agnico Eagle Mines Trading Down 0.8 %

Shares of Agnico Eagle Mines stock opened at $78.20 on Friday. The firm’s 50-day moving average price is $79.70 and its two-hundred day moving average price is $71.08. Agnico Eagle Mines has a 12-month low of $44.37 and a 12-month high of $85.14. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $39.12 billion, a price-to-earnings ratio of 82.32, a PEG ratio of 0.78 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last issued its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, analysts forecast that Agnico Eagle Mines will post 3.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors have recently made changes to their positions in the business. Financial Sense Advisors Inc. grew its position in shares of Agnico Eagle Mines by 372.3% in the 1st quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock worth $3,718,000 after buying an additional 49,132 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Agnico Eagle Mines in the 2nd quarter worth approximately $2,595,000. FIL Ltd increased its stake in shares of Agnico Eagle Mines by 16.4% in the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after purchasing an additional 2,831,794 shares in the last quarter. Capital Wealth Planning LLC raised its holdings in Agnico Eagle Mines by 62.3% during the first quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock valued at $156,304,000 after acquiring an additional 1,006,001 shares during the period. Finally, Paragon Associates & Paragon Associates II Joint Venture raised its stake in Agnico Eagle Mines by 20.0% during the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 150,000 shares of the mining company’s stock valued at $8,228,000 after purchasing an additional 25,000 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

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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.

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