Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $179.00

by · The Markets Daily

Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $175.00 to $179.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.54% from the stock’s previous close.

AEM has been the subject of several other research reports. Scotiabank reduced their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Royal Bank Of Canada cut their price target on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Citigroup reduced their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and lifted their target price for the company from $187.00 to $200.00 in a research report on Monday, July 6th. Finally, Weiss Ratings cut Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.00.

Check Out Our Latest Research Report on Agnico Eagle Mines

Agnico Eagle Mines Stock Up 0.6%

Agnico Eagle Mines stock traded up $0.81 during midday trading on Monday, reaching $146.08. The stock had a trading volume of 309,685 shares, compared to its average volume of 2,672,712. The firm’s fifty day simple moving average is $157.36 and its 200-day simple moving average is $189.12. Agnico Eagle Mines has a 1-year low of $126.93 and a 1-year high of $255.24. The stock has a market capitalization of $74.03 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86.

Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business’s revenue was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 EPS. As a group, analysts expect that Agnico Eagle Mines will post 11.76 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after acquiring an additional 331 shares during the period. AQR Capital Management LLC grew its holdings in Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after buying an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC increased its position in Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after buying an additional 1,160 shares during the period. Rhumbline Advisers lifted its holdings in shares of Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after buying an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after acquiring an additional 187 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

(Get Free Report)

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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