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 covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $86.78.

A number of research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. UBS Group began coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. TD Securities upped their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, 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.

Agnico Eagle Mines Trading Up 0.9 %

Shares of AEM opened at $84.30 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 12-month low of $44.37 and a 12-month high of $89.00. The firm has a market capitalization of $42.32 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09. The stock’s fifty day simple moving average is $82.68 and its 200-day simple moving average is $76.09.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds have recently made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $2,595,000. Tidal Investments LLC raised its position in Agnico Eagle Mines by 87.8% during the first quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock valued at $1,195,000 after purchasing an additional 9,628 shares in the last quarter. M&G Plc bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth $1,802,000. Swiss National Bank lifted its stake in Agnico Eagle Mines by 0.6% in the 3rd quarter. Swiss National Bank now owns 1,506,558 shares of the mining company’s stock valued at $121,558,000 after purchasing an additional 9,400 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Agnico Eagle Mines in the second quarter valued at approximately $7,084,000. 68.34% of the stock is owned by 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.