TD Securities Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $91.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective boosted by analysts at TD Securities from $90.00 to $91.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the mining company’s stock. TD Securities’ price objective suggests a potential upside of 21.77% from the stock’s previous close.

A number of other analysts also recently commented on AEM. BMO Capital Markets decreased their price objective on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. CIBC boosted their target price on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their price target on shares of 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. Finally, Citigroup upped their price objective on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

Agnico Eagle Mines Stock Performance

AEM traded down $1.36 during trading on Friday, hitting $74.73. The stock had a trading volume of 2,175,578 shares, compared to its average volume of 2,811,254. Agnico Eagle Mines has a twelve month low of $43.22 and a twelve month high of $78.12. The firm has a market capitalization of $37.38 billion, a P/E ratio of 78.73, a PEG ratio of 0.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The company’s 50-day moving average price is $69.34 and its 200 day moving average price is $61.15.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.19%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts forecast that Agnico Eagle Mines will post 3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of large investors have recently modified their holdings of AEM. Financial Sense Advisors Inc. increased its holdings in Agnico Eagle Mines by 372.3% in the first quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock valued at $3,718,000 after buying an additional 49,132 shares during the last quarter. Beck Bode LLC acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $1,318,000. Campbell & CO Investment Adviser LLC bought a new position in Agnico Eagle Mines during the fourth quarter worth $2,297,000. ANTIPODES PARTNERS Ltd acquired a new position in Agnico Eagle Mines in the fourth quarter worth $41,610,000. Finally, FIL Ltd increased its stake in Agnico Eagle Mines by 16.4% during 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 during the last quarter. Institutional investors and hedge funds 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.