Raymond James Issues Positive Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price lifted by Raymond James from $105.00 to $130.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the mining company’s stock.

A number of other equities research analysts also recently weighed in on AEM. National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Citigroup increased their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. UBS Group downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and lifted their price target for the company from $100.00 to $110.00 in a research note on Monday, March 31st. Finally, Royal Bank of Canada upped their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Buy” and a consensus price target of $108.00.

Agnico Eagle Mines Trading Down 8.3 %

AEM opened at $99.45 on Friday. Agnico Eagle Mines has a twelve month low of $60.15 and a twelve month high of $111.04. The company has a fifty day moving average of $99.77 and a 200-day moving average of $88.76. The stock has a market cap 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 company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. On average, sell-side analysts predict that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc bought a new stake in Agnico Eagle Mines during the fourth quarter worth $26,000. Smartleaf Asset Management LLC grew its stake in shares of 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 acquiring an additional 318 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $29,000. Fifth Third Bancorp lifted its position in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after purchasing an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its position in shares of Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. 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.