Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High - Should You Buy?

Key Points

• Agnico Eagle Mines shares have reached a new **52-week high** of **$158.09**, indicating a strong market performance with a trading volume of **460,455 shares**.
• Analysts have a **consensus rating of "Buy"** for AEM, with a price target increasing to **$173.00** from **$170.00**, highlighting positive growth expectations.
• The company reported **$2.86 billion** in revenue for the last quarter, significantly beating estimates and showing a **35.6% year-over-year increase** in earnings per share.

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM shares reached a new 52-week high on Friday . The stock traded as high as $158.09 and last traded at $158.05, with a volume of 460455 shares. The stock had previously closed at $154.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AEM shares. Royal Bank Of Canada boosted their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Finally, Bank of America boosted their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Trading Up 2.6%

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 business's 50-day moving average is $136.10 and its two-hundred day moving average is $121.25. The firm has a market cap of $79.65 billion, a P/E ratio of 26.93, a P/E/G ratio of 1.03 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced 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 business 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 earned $1.07 EPS. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Evergreen Capital Management LLC boosted its stake in Agnico Eagle Mines by 0.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company's stock valued at $979,000 after purchasing an additional 77 shares during the period. Brown Advisory Inc. boosted its stake in Agnico Eagle Mines by 2.4% during the 2nd quarter. Brown Advisory Inc. now owns 3,378 shares of the mining company's stock valued at $402,000 after purchasing an additional 79 shares during the period. Royal London Asset Management Ltd. boosted its stake in Agnico Eagle Mines by 0.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 23,837 shares of the mining company's stock valued at $2,835,000 after purchasing an additional 79 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake 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 valued at $618,000 after purchasing an additional 85 shares during the period. Finally, Cadinha & Co. LLC boosted its stake in Agnico Eagle Mines by 2.8% during the 2nd quarter. Cadinha & Co. LLC now owns 3,211 shares of the mining company's stock valued at $382,000 after purchasing an additional 86 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

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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