Agnico Eagle Mines Limited (NYSE:AEM) Given Average Rating of "Buy" by Brokerages

Key Points

• Agnico Eagle Mines Limited (NYSE:AEM) has received an average rating of “Buy” from 17 analysts, with two recommending a hold, nine a buy, and six a strong buy.
• The company's twelve-month price target is $162.10, while shares opened at $164.28 and have ranged between a low of $75.17 and a high of $172.21 over the past year.
• In its last quarterly earnings report, Agnico Eagle Mines reported an EPS of $1.94, surpassing estimates and showing a year-over-year revenue growth of 35.6%.

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM has been assigned an average recommendation of "Buy" from the seventeen analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and six have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $162.10.

AEM has been the subject of a number of analyst reports. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Zacks Research upgraded Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. TD Securities boosted their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a "buy" rating in a research report on Wednesday. Bank of America boosted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, Raymond James Financial boosted their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an "outperform" rating in a research report on Friday.

Institutional Trading of Agnico Eagle Mines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Union Bancaire Privee UBP SA increased its position in shares of Agnico Eagle Mines by 1.6% in the third quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company's stock valued at $749,000 after buying an additional 72 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Agnico Eagle Mines by 0.9% during the second quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company's stock worth $979,000 after purchasing an additional 77 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Agnico Eagle Mines by 2.4% during the second quarter. Brown Advisory Inc. now owns 3,378 shares of the mining company's stock worth $402,000 after purchasing an additional 79 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Agnico Eagle Mines by 0.3% during the second quarter. Royal London Asset Management Ltd. now owns 23,837 shares of the mining company's stock worth $2,835,000 after purchasing an additional 79 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of Agnico Eagle Mines by 12.9% during the third quarter. AdvisorNet Financial Inc now owns 700 shares of the mining company's stock worth $118,000 after purchasing an additional 80 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 1.6%

Shares of NYSE:AEM opened at $164.28 on Friday. Agnico Eagle Mines has a 12-month low of $75.17 and a 12-month high of $172.21. The company has a market capitalization of $82.60 billion, a PE ratio of 27.94, a PEG ratio of 1.08 and a beta of 0.46. The business has a 50 day moving average of $149.57 and a two-hundred day moving average of $128.20. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the company posted $1.07 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 35.6% on a year-over-year basis. As a group, analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current year.

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.

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