Agnico Eagle Mines (NYSE:AEM) Now Covered by UBS Group

Investment analysts at UBS Group began coverage on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a research note issued to investors on Tuesday, Benzinga reports. The firm set a “buy” rating and a $95.00 price target on the mining company’s stock. UBS Group’s price target indicates a potential upside of 15.80% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. TD Securities upped their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets dropped their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Finally, Scotiabank lifted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.67.

Agnico Eagle Mines Stock Performance

AEM traded down $0.52 during trading on Tuesday, hitting $82.04. The stock had a trading volume of 722,412 shares, compared to its average volume of 2,699,264. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The firm has a market cap of $41.04 billion, a price-to-earnings ratio of 86.36, a P/E/G ratio of 0.77 and a beta of 1.10. The company has a 50 day moving average price of $77.47 and a 200-day moving average price of $68.20. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $83.95.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm earned $0.65 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, research analysts predict that Agnico Eagle Mines will post 3.65 EPS for the current year.

Institutional Trading of Agnico Eagle Mines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter worth about $325,327,000. FIL Ltd lifted its holdings in shares of Agnico Eagle Mines by 16.4% in the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after purchasing an additional 2,831,794 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $132,257,000. TD Asset Management Inc raised its position in Agnico Eagle Mines by 41.9% in the 4th quarter. TD Asset Management Inc now owns 4,274,964 shares of the mining company’s stock valued at $235,535,000 after buying an additional 1,261,482 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Agnico Eagle Mines by 12.0% in the 4th quarter. Capital World Investors now owns 9,690,000 shares of the mining company’s stock worth $531,284,000 after acquiring an additional 1,034,721 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

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.