Agnico Eagle Mines Limited (NYSE:AEM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $86.78.

A number of analysts recently weighed in on AEM shares. TD Securities increased their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Scotiabank increased their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. UBS Group started coverage on 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. Finally, Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds have recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its holdings in shares of Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Agnico Eagle Mines during the second quarter valued at approximately $32,000. FSC Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the third quarter worth approximately $32,000. McClarren Financial Advisors Inc. lifted its holdings in Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after buying an additional 445 shares during the period. Finally, WASHINGTON TRUST Co boosted its position in Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after acquiring an additional 350 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 2.9 %

Shares of AEM opened at $84.11 on Wednesday. The company’s fifty day simple moving average is $82.66 and its 200-day simple moving average is $76.19. The company has a market cap of $42.23 billion, a P/E ratio of 42.06, a P/E/G ratio of 0.73 and a beta of 1.09. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a twelve month low of $44.37 and a twelve month high of $89.00.

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.