Royal Bank of Canada Increases Agnico Eagle Mines (NYSE:AEM) Price Target to $115.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target hoisted by analysts at Royal Bank of Canada from $110.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the mining company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 15.63% from the stock’s previous close.

Several other brokerages have also weighed in on AEM. Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. UBS Group lowered shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and boosted their price target for the company from $100.00 to $110.00 in a research report on Monday, March 31st. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Scotiabank boosted their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Finally, Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and an average target price of $108.00.

Agnico Eagle Mines Stock Down 8.3 %

Shares of NYSE:AEM opened at $99.45 on Friday. Agnico Eagle Mines has a 1 year low of $60.15 and a 1 year high of $111.04. The company has a market capitalization of $50.02 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. The business has a fifty day moving average price of $99.77 and a two-hundred day moving average price of $88.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

Several institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC grew its stake in Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after buying an additional 318 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Agnico Eagle Mines in the 4th quarter worth $29,000. Fifth Third Bancorp raised its position in shares of Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after buying an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its position in shares of Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after buying an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.