Agnico Eagle Mines (NYSE:AEM) Sets New 1-Year High - What's Next?

Key Points

• Agnico Eagle Mines shares have reached a new 52-week high of $155.05, indicating strong trading momentum with over 3.3 million shares traded.
• Despite strong performance, analysts have mixed ratings on the stock, with five giving it a Strong Buy, seven a Buy, and three a Hold rating.
• The company reported better-than-expected quarterly earnings with an EPS of $1.94, surpassing estimates and showing a 35.6% increase in revenue year-over-year.

Shares of Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM hit a new 52-week high during trading on Tuesday . The company traded as high as $155.05 and last traded at $154.46, with a volume of 3301547 shares traded. The stock had previously closed at $151.85.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of research analyst reports. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Bank of America increased their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target for the company in a research note on Monday, June 30th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Stock Up 0.6%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The firm has a market cap of $77.27 billion, a PE ratio of 26.13, a PEG ratio of 1.05 and a beta of 0.45. The stock has a fifty day moving average price of $132.64 and a 200-day moving average price of $119.28.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS 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 for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm posted $1.07 EPS. The business's revenue for the quarter was up 35.6% compared to the same quarter last year. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Agnico Eagle Mines in the first quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Agnico Eagle Mines during the first quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth approximately $29,000. Finally, Private Trust Co. NA grew its position in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

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.