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

Key Points

• Agnico Eagle Mines Limited (NYSE:AEM) has received an average rating of "Buy" from 17 research firms, with nine analysts recommending a buy and six issuing a strong buy.
• CIBC and Raymond James have significantly increased their price targets for AEM shares, with CIBC raising it to $231.00 and Raymond James to $182.00.
• The company's recent quarterly earnings reported $1.94 EPS, exceeding analyst estimates of $1.83 and marking a 35.6% year-over-year revenue growth to $2.86 billion.

Shares of Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM have earned an average rating of "Buy" from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and six have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $162.10.

A number of research firms recently weighed in on AEM. CIBC lifted their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an "outperformer" rating in a research report on Friday. Raymond James Financial lifted their price objective on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an "outperform" rating in a research report on Friday. Zacks Research upgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Bank of America lifted their price objective on shares of 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, UBS Group lifted their price objective on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, September 19th.

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Agnico Eagle Mines in the first quarter valued at $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Agnico Eagle Mines in the first quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at $29,000. Finally, City State Bank lifted its holdings in Agnico Eagle Mines by 69.2% in the second quarter. City State Bank now owns 269 shares of the mining company's stock valued at $32,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $164.28 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The company's 50 day simple moving average is $149.57 and its 200-day simple moving average is $128.20. Agnico Eagle Mines has a 12-month low of $75.17 and a 12-month high of $172.21. The firm has a market cap of $82.60 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46.

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

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.

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