UBS Group Issues Positive Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective upped by stock analysts at UBS Group from $110.00 to $115.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the mining company’s stock. UBS Group’s target price would indicate a potential downside of 2.32% from the company’s current price.

Several other equities analysts have also recently weighed in on AEM. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. Raymond James raised their target price on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Scotiabank lifted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Finally, Citigroup raised their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $111.90.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $117.73 on Friday. The business’s fifty day moving average is $101.63 and its 200 day moving average is $89.78. Agnico Eagle Mines has a 12-month low of $60.15 and a 12-month high of $118.74. 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 stock has a market cap of $59.25 billion, a P/E ratio of 31.14, a P/E/G ratio of 0.66 and a beta of 0.87.

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 the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Sell-side analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Several large investors have recently modified their holdings of the stock. Benjamin Edwards Inc. grew its holdings in Agnico Eagle Mines by 2.0% during the fourth quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company’s stock valued at $428,000 after purchasing an additional 106 shares during the period. Duncker Streett & Co. Inc. raised its stake in shares of Agnico Eagle Mines by 37.3% in the fourth 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 during the period. Laird Norton Wetherby Wealth Management LLC lifted its position in shares of Agnico Eagle Mines by 1.8% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company’s stock valued at $543,000 after buying an additional 120 shares during the last quarter. Pinnacle Wealth Management Group Inc. grew its stake in shares of Agnico Eagle Mines by 0.5% during the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock worth $1,909,000 after acquiring an additional 125 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Agnico Eagle Mines by 19.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company’s stock worth $84,000 after acquiring an additional 125 shares during 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.