Agnico Eagle Mines (NYSE:AEM) Stock Price Expected to Rise, Bank of America Analyst Says

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM had its target price raised by analysts at Bank of America from $170.00 to $173.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the mining company's stock. Bank of America's price target would indicate a potential upside of 40.27% from the stock's current price.

Several other analysts have also issued reports on AEM. BMO Capital Markets assumed coverage on Agnico Eagle Mines in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 target price for the company. UBS Group increased 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. National Bank Financial upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, March 21st. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Finally, Citigroup increased their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $130.50.

Agnico Eagle Mines Price Performance

AEM traded up $2.31 on Monday, reaching $123.33. The company had a trading volume of 1,310,579 shares, compared to its average volume of 2,564,935. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. Agnico Eagle Mines has a 52-week low of $63.93 and a 52-week high of $126.76. The company has a market cap of $62.08 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 1.05 and a beta of 0.51. The business has a 50 day simple moving average of $117.56 and a 200 day simple moving average of $101.94.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The business had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The firm's revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock worth $1,554,180,000 after purchasing an additional 331,087 shares during the last quarter. Capital World Investors increased its holdings 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 worth $1,091,550,000 after buying an additional 4,121,164 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Agnico Eagle Mines by 3.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after buying an additional 499,362 shares during the last quarter. Deutsche Bank AG lifted its stake in Agnico Eagle Mines by 0.7% during the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock valued at $932,008,000 after acquiring an additional 87,410 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after acquiring an additional 2,709,005 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.