Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $142.00 at Bank of America

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective boosted by stock analysts at Bank of America from $119.00 to $142.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the mining company’s stock. Bank of America‘s price target points to a potential upside of 34.28% from the stock’s current price.

A number of other analysts have also issued reports on the company. Scotiabank boosted their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Royal Bank of Canada increased their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Finally, Raymond James raised their price target on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $111.40.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $105.75 on Tuesday. The firm has a market capitalization of $53.19 billion, a PE ratio of 27.98, a P/E/G 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. The company has a 50-day moving average price of $100.85 and a two-hundred day moving average price of $89.36. Agnico Eagle Mines has a twelve month low of $60.15 and a twelve month high of $111.04.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data 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 net margin of 22.88% and a return on equity of 10.45%. Equities analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc bought a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted 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 valued at $28,000 after purchasing an additional 318 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at $29,000. Fifth Third Bancorp grew its holdings 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 purchasing an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. raised its position in Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.