Jefferies Financial Group Issues Positive Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective upped by Jefferies Financial Group from $85.00 to $88.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the mining company’s stock.

AEM has been the topic of a number of other research reports. Royal Bank of Canada upped their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.11.

Agnico Eagle Mines Stock Up 1.8 %

AEM stock opened at $81.11 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $81.97 and its 200 day moving average price is $79.39. Agnico Eagle Mines has a 52 week low of $44.37 and a 52 week high of $89.00. The company has a market cap of $40.71 billion, a P/E ratio of 40.56, a P/E/G ratio of 0.68 and a beta of 1.08.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after buying an additional 4,562,005 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Agnico Eagle Mines by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock worth $868,638,000 after acquiring an additional 134,872 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after acquiring an additional 817,240 shares during the period. National Bank of Canada FI raised its holdings in Agnico Eagle Mines by 7.4% in the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock valued at $334,749,000 after acquiring an additional 285,565 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Agnico Eagle Mines by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after purchasing an additional 591,178 shares during the period. 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.