Agnico Eagle Mines (NYSE:AEM) Shares Gap Up - Time to Buy?

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM's share price gapped up prior to trading on Monday . The stock had previously closed at $121.53, but opened at $126.20. Agnico Eagle Mines shares last traded at $125.24, with a volume of 548,325 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on AEM shares. StockNews.com cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Royal Bank of Canada lifted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a "hold" rating in a report on Tuesday, January 7th. Finally, National Bank Financial upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $124.40.

Agnico Eagle Mines Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The company's fifty day moving average is $106.09 and its 200 day moving average is $92.58. The firm has a market cap of $59.73 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The business had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid 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 1.35%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of large investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $573,446,000. Capital World Investors lifted its stake in Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock valued at $551,339,000 after buying an additional 3,155,927 shares in the last quarter. AGF Management Ltd. grew its stake in shares of Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock worth $109,205,000 after buying an additional 905,328 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Agnico Eagle Mines by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company's stock worth $1,745,858,000 after buying an additional 778,919 shares in 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.