Jefferies Financial Group Issues Positive Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective raised by Jefferies Financial Group from $85.00 to $88.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the mining company’s stock.

A number of other brokerages have also recently issued reports on AEM. Royal Bank of Canada boosted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of $87.11.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $81.11 on Tuesday. The firm has a market capitalization of $40.71 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The company has a 50 day moving average price of $81.97 and a 200 day moving average price of $79.39. Agnico Eagle Mines has a one year low of $44.37 and a one year high of $89.00.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after acquiring an additional 4,562,005 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Agnico Eagle Mines by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock worth $868,638,000 after purchasing an additional 134,872 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 16.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after buying an additional 817,240 shares during the last quarter. National Bank of Canada FI grew its position in shares of Agnico Eagle Mines by 7.4% during the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after buying an additional 285,565 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Agnico Eagle Mines by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after buying an additional 591,178 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.