Agnico Eagle Mines (NYSE:AEM) PT Raised to $80.00 at Citigroup

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price raised by investment analysts at Citigroup from $65.00 to $80.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the mining company’s stock. Citigroup’s target price suggests a potential upside of 25.65% from the stock’s previous close.

AEM has been the subject of several other research reports. Raymond James raised their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. TD Securities lowered their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. CIBC lowered their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.13.

Agnico Eagle Mines Price Performance

AEM traded down $2.14 during midday trading on Tuesday, reaching $63.67. 1,117,181 shares of the company’s stock were exchanged, compared to its average volume of 3,283,152. The firm has a market capitalization of $31.75 billion, a price-to-earnings ratio of 67.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $67.80. The business has a 50-day simple moving average of $57.26 and a two-hundred day simple moving average of $52.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. As a group, research analysts predict that Agnico Eagle Mines will post 2.77 EPS for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC bought a new stake in Agnico Eagle Mines in the 3rd quarter valued at $231,000. Commonwealth Equity Services LLC lifted its position in Agnico Eagle Mines by 4.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 83,299 shares of the mining company’s stock valued at $3,786,000 after acquiring an additional 3,519 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Agnico Eagle Mines by 4.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 163,345 shares of the mining company’s stock valued at $7,426,000 after acquiring an additional 6,243 shares in the last quarter. Tectonic Advisors LLC lifted its position in Agnico Eagle Mines by 8.5% in the 3rd quarter. Tectonic Advisors LLC now owns 29,304 shares of the mining company’s stock valued at $1,332,000 after acquiring an additional 2,297 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Agnico Eagle Mines by 7.5% in the 3rd quarter. Raymond James & Associates now owns 315,658 shares of the mining company’s stock valued at $14,347,000 after acquiring an additional 22,019 shares in the last quarter. 68.34% of the stock is 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.