Jefferies Financial Group Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $59.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target raised by Jefferies Financial Group from $58.00 to $59.00 in a report released on Thursday, BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the mining company’s stock.

Several other research firms have also commented on AEM. Scotiabank boosted their price objective on Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a sector outperform rating in a research note on Thursday, May 23rd. BMO Capital Markets dropped their price target on Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating for the company in a research report on Thursday. CIBC raised their price objective on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an outperform rating in a report on Tuesday, April 30th. TD Securities upped their target price on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, National Bank Financial reissued an outperform overweight rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of Moderate Buy and a consensus price target of $72.22.

Agnico Eagle Mines Trading Down 1.3 %

Shares of NYSE:AEM opened at $65.23 on Thursday. The business’s 50 day moving average price is $66.01 and its 200-day moving average price is $57.55. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $71.50. The firm has a market capitalization of $32.63 billion, a price-to-earnings ratio of 68.66, a price-to-earnings-growth ratio of 0.73 and a beta of 1.11. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate 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 was up 21.2% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, equities research analysts forecast that Agnico Eagle Mines will post 3.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Agnico Eagle Mines by 9.5% during the fourth quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after acquiring an additional 1,995,127 shares during the last quarter. FIL Ltd increased its position in shares of Agnico Eagle Mines by 16.4% during the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after purchasing an additional 2,831,794 shares during the last quarter. Vanguard Group Inc. raised its holdings in Agnico Eagle Mines by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock valued at $963,320,000 after buying an additional 338,264 shares during the period. Mackenzie Financial Corp lifted its position in Agnico Eagle Mines by 0.4% in the fourth quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after buying an additional 41,068 shares during the last quarter. Finally, Capital World Investors boosted its stake in Agnico Eagle Mines by 0.8% during the first quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock worth $582,529,000 after buying an additional 79,275 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.