TD Securities Increases Agnico Eagle Mines (NYSE:AEM) Price Target to $78.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective raised by stock analysts at TD Securities from $74.00 to $78.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the mining company’s stock. TD Securities’ price objective would indicate a potential upside of 21.42% from the company’s previous close.

A number of other brokerages also recently issued reports on AEM. CIBC boosted their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Raymond James raised their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Finally, Citigroup increased their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average target price of $69.63.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $64.24 on Tuesday. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $67.80. 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 firm 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 stock’s 50-day simple moving average is $57.55 and its 200-day simple moving average is $52.90.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business posted $0.57 EPS. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, equities analysts forecast that Agnico Eagle Mines will post 2.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors have recently bought and sold shares of the company. Pullen Investment Management LLC purchased a new stake in Agnico Eagle Mines in the first quarter valued at $1,714,000. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of Agnico Eagle Mines by 0.7% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 156,953 shares of the mining company’s stock valued at $8,545,000 after acquiring an additional 1,074 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Agnico Eagle Mines during the 1st quarter worth approximately $260,000. Private Advisor Group LLC increased its holdings in Agnico Eagle Mines by 10.6% in the 1st quarter. Private Advisor Group LLC now owns 11,189 shares of the mining company’s stock valued at $667,000 after purchasing an additional 1,073 shares during the last quarter. Finally, Hartline Investment Corp purchased a new stake in Agnico Eagle Mines in the first quarter valued at approximately $421,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

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.