Agnico Eagle Mines (NYSE:AEM) Given New $226.00 Price Target at Bank of America

Key Points

• Bank of America has raised its price target for Agnico Eagle Mines from $209.00 to $226.00, indicating a potential upside of 26.39% from the previous close.
• Agnico Eagle Mines recently reported earnings of $1.94 per share, surpassing the consensus estimate of $1.83, with revenues of $2.86 billion, a year-over-year increase of 35.6%.
• The company's consensus rating is "Buy" with an average price target of $173.20 based on ratings from several analysts, highlighting strong positive sentiment in the market.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM had its price objective upped by research analysts at Bank of America from $209.00 to $226.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the mining company's stock. Bank of America's target price would indicate a potential upside of 26.39% from the company's previous close.

Other analysts also recently issued research reports about the stock. CIBC increased their target price 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, October 10th. TD Securities increased their price target on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. UBS Group increased their price target on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Weiss Ratings restated a "buy (a)" rating on shares of Agnico Eagle Mines in a report on Wednesday, October 8th. Finally, Raymond James Financial increased their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Six investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $173.20.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $178.81 on Thursday. The business has a 50 day moving average of $151.98 and a 200-day moving average of $129.60. Agnico Eagle Mines has a 1 year low of $75.17 and a 1 year high of $179.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The company has a market capitalization of $89.91 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.14 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $1.07 earnings per share. The firm's revenue was up 35.6% compared to the same quarter last year. On average, equities research analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of large investors have recently modified their holdings of the business. CWM LLC boosted its position in shares of Agnico Eagle Mines by 2.4% during the 3rd quarter. CWM LLC now owns 6,573 shares of the mining company's stock valued at $1,108,000 after acquiring an additional 155 shares during the last quarter. Canoe Financial LP increased its stake in Agnico Eagle Mines by 19.5% in the 3rd quarter. Canoe Financial LP now owns 1,129,144 shares of the mining company's stock worth $190,140,000 after purchasing an additional 184,177 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at approximately $307,000. Pure Portfolios Holdings LLC increased its stake in shares of Agnico Eagle Mines by 1.6% during the third quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company's stock valued at $637,000 after buying an additional 60 shares during the period. Finally, World Investment Advisors boosted its position in shares of Agnico Eagle Mines by 15.1% during the third quarter. World Investment Advisors now owns 4,379 shares of the mining company's stock valued at $738,000 after purchasing an additional 575 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

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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