Scotiabank Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $105.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target raised by equities researchers at Scotiabank from $103.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s price target indicates a potential upside of 18.79% from the stock’s previous close.

Separately, Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $90.50.

Agnico Eagle Mines Stock Performance

NYSE AEM traded up $3.36 on Tuesday, hitting $88.39. 1,528,383 shares of the company traded hands, compared to its average volume of 1,436,857. Agnico Eagle Mines has a 52-week low of $44.37 and a 52-week high of $89.00. 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 has a market capitalization of $44.40 billion, a price-to-earnings ratio of 44.23, a P/E/G ratio of 0.57 and a beta of 1.08. The business’s 50 day moving average price is $81.84 and its 200-day moving average price is $80.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AEM. Vanguard Personalized Indexing Management LLC lifted its position in Agnico Eagle Mines by 29.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,168 shares of the mining company’s stock valued at $724,000 after purchasing an additional 2,561 shares during the last quarter. Epoch Investment Partners Inc. bought a new position in Agnico Eagle Mines in the 2nd quarter valued at $1,990,000. Lombard Odier Asset Management Europe Ltd boosted its position in Agnico Eagle Mines by 0.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after buying an additional 190 shares during the period. Progeny 3 Inc. bought a new position in Agnico Eagle Mines in the 2nd quarter worth about $18,151,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Agnico Eagle Mines by 149.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 292,490 shares of the mining company’s stock worth $19,133,000 after acquiring an additional 175,077 shares during the period. Institutional investors 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.