Citigroup Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $80.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective increased by investment analysts at Citigroup from $65.00 to $80.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the mining company’s stock. Citigroup’s target price indicates a potential upside of 24.53% from the stock’s current price.

Several other equities analysts also recently weighed in on AEM. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Raymond James boosted their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. TD Securities reduced their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, CIBC reduced their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Agnico Eagle Mines Price Performance

AEM opened at $64.24 on Tuesday. The company has a market capitalization of $32.03 billion, a price-to-earnings ratio of 67.62, a PEG ratio of 0.88 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $57.55 and a 200-day moving average price of $52.90. Agnico Eagle Mines has a twelve month low of $43.22 and a twelve month high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.16. The firm had revenue of $1.83 billion during 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% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Equities analysts expect that Agnico Eagle Mines will post 2.81 EPS for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise grew its stake in Agnico Eagle Mines by 2.8% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after buying an additional 169 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of Agnico Eagle Mines by 4.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after acquiring an additional 226 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Agnico Eagle Mines by 1.3% in the 3rd quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock worth $827,000 after acquiring an additional 242 shares during the last quarter. FirstPurpose Wealth LLC lifted its holdings in shares of Agnico Eagle Mines by 3.8% in the 3rd quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock worth $326,000 after acquiring an additional 260 shares during the last quarter. Finally, Violich Capital Management Inc. lifted its holdings in shares of Agnico Eagle Mines by 1.4% in the 1st quarter. Violich Capital Management Inc. now owns 21,654 shares of the mining company’s stock worth $1,292,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other 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.