Scotiabank Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $94.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target hoisted by Scotiabank from $81.00 to $94.00 in a research report released on Monday morning, Benzinga reports. They currently have a sector outperform rating on the mining company’s stock.

Several other brokerages have also recently weighed in on AEM. StockNews.com raised shares of Agnico Eagle Mines from a hold rating to a buy rating in a research note on Thursday, June 27th. BMO Capital Markets cut their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating for the company in a research report on Thursday, June 20th. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a hold rating in a report on Friday, July 12th. CIBC lifted their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an outperformer rating in a report on Wednesday, July 10th. Finally, Citigroup upped their price target on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $82.86.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $82.71 on Monday. The business has a 50 day simple moving average of $71.84 and a 200 day simple moving average of $63.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.88. The company has a market capitalization of $41.38 billion, a PE ratio of 87.05, a price-to-earnings-growth ratio of 0.77 and a beta of 1.06. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $82.97.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business earned $0.65 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines will post 3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AEM. Continuum Advisory LLC grew its stake in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares during the period. Stephens Consulting LLC bought a new position in Agnico Eagle Mines during the first quarter worth about $30,000. Abich Financial Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $32,000. Janiczek Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $47,000. Institutional investors own 68.34% of the company’s stock.

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.