Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective raised by stock analysts at Citigroup from $55.00 to $64.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the mining company’s stock. Citigroup‘s price objective would suggest a potential upside of 13.09% from the company’s previous close.
Several other analysts also recently weighed in on the stock. CIBC reaffirmed a “buy” rating and set a $70.00 price target on shares of Agnico Eagle Mines in a research note on Monday, July 29th. ValuEngine raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. lifted their price target on shares of Agnico Eagle Mines from $68.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Desjardins reaffirmed an “average” rating and set a $63.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, May 15th. Finally, Raymond James lifted their price target on shares of Agnico Eagle Mines from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Agnico Eagle Mines presently has an average rating of “Buy” and a consensus price target of $59.26.
Shares of NYSE:AEM opened at $56.59 on Wednesday. Agnico Eagle Mines has a 1 year low of $32.97 and a 1 year high of $64.88. The business has a 50 day simple moving average of $58.68 and a two-hundred day simple moving average of $48.34. The firm has a market capitalization of $13.51 billion, a PE ratio of 145.36, a price-to-earnings-growth ratio of 71.01 and a beta of -0.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 24th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.07. Agnico Eagle Mines had a positive return on equity of 1.92% and a negative net margin of 14.74%. The business had revenue of $526.60 million during the quarter, compared to analyst estimates of $490.93 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts expect that Agnico Eagle Mines will post 0.8 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its stake in Agnico Eagle Mines by 75.6% in the second quarter. Invesco Ltd. now owns 2,878,319 shares of the mining company’s stock worth $147,483,000 after buying an additional 1,239,129 shares in the last quarter. Mackenzie Financial Corp raised its stake in Agnico Eagle Mines by 52.2% in the second quarter. Mackenzie Financial Corp now owns 2,848,202 shares of the mining company’s stock worth $145,942,000 after buying an additional 976,238 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Agnico Eagle Mines in the first quarter worth approximately $43,947,000. Price T Rowe Associates Inc. MD raised its stake in Agnico Eagle Mines by 7,009.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 533,214 shares of the mining company’s stock worth $27,396,000 after buying an additional 525,714 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in Agnico Eagle Mines by 112.2% in the first quarter. Federated Investors Inc. PA now owns 785,600 shares of the mining company’s stock worth $34,174,000 after buying an additional 415,380 shares in the last quarter. 61.51% of the stock is owned by hedge funds and other institutional investors.
About Agnico Eagle Mines
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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