Agnico Eagle Mines (NYSE:AEM) Earns Outperform Rating from Analysts at Raymond James Financial

Raymond James Financial initiated coverage on shares of Agnico Eagle Mines (NYSE:AEM - Free Report) TSE: AEM in a research note published on Monday morning. The firm issued an outperform rating and a $130.00 target price on the mining company's stock.

A number of other research firms have also weighed in on AEM. Citigroup boosted their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Stifel Canada upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Wednesday, March 19th. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. UBS Group boosted their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Finally, BMO Capital Markets initiated coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $130.50.

Agnico Eagle Mines Price Performance

AEM traded up $2.90 during trading on Monday, hitting $119.02. 2,138,894 shares of the stock traded hands, compared to its average volume of 2,601,087. Agnico Eagle Mines has a twelve month low of $64.65 and a twelve month high of $126.76. The business has a 50 day moving average price of $117.50 and a 200 day moving average price of $103.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.37 and a quick ratio of 1.20. The company has a market cap of $59.91 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 0.87 and a beta of 0.51.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.39 by $0.14. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The firm's revenue was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. Equities research analysts forecast 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 declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.40 dividend. This represents a yield of 1.36%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's payout ratio is currently 34.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AEM. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings 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 purchasing an additional 85 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Agnico Eagle Mines by 31.1% in 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 in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Agnico Eagle Mines by 2.0% during the fourth quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company's stock valued at $428,000 after purchasing an additional 106 shares in the last quarter. Duncker Streett & Co. Inc. grew its position in Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company's stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of Agnico Eagle Mines by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock worth $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.

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.