Analysts Set Agnico Eagle Mines Limited (NYSE:AEM) Target Price at $124.40

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM has earned an average recommendation of "Buy" from the twelve brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and four have issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $124.40.

A number of research analysts recently issued reports on the company. Bank of America lifted their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. National Bank Financial upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, March 21st. UBS Group increased their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, StockNews.com lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th.

Agnico Eagle Mines Price Performance

NYSE:AEM traded down $0.12 during mid-day trading on Wednesday, reaching $106.39. 3,863,931 shares of the stock were exchanged, compared to its average volume of 2,523,960. The business has a fifty day moving average price of $110.63 and a 200 day moving average price of $95.42. The firm has a market capitalization of $53.54 billion, a PE ratio of 28.15, a PEG ratio of 0.66 and a beta of 0.54. Agnico Eagle Mines has a 1-year low of $63.01 and a 1-year high of $126.76. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.14. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Agnico Eagle Mines's revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. Research analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. Agnico Eagle Mines's payout ratio is presently 34.04%.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock worth $618,000 after acquiring an additional 85 shares during the period. Hexagon Capital Partners LLC boosted its position in Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after acquiring an additional 87 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Agnico Eagle Mines by 2.0% during the 4th quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company's stock valued at $428,000 after buying an additional 106 shares during the last quarter. Duncker Streett & Co. Inc. lifted its holdings in shares of Agnico Eagle Mines by 37.3% during the 4th 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 last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings 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. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.