Agnico Eagle Mines (NYSE:AEM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised its price target on Agnico Eagle to $222 (from $220) while keeping a "neutral" rating, implying about a 23.6% upside from the recent share price.
• Agnico Eagle beat expectations for the quarter with EPS of $3.40 versus $3.19 expected and $4.0 billion in revenue (up 66.1% year-over-year), delivering strong margins and a 21.7% return on equity.
• The stock was trading down about 2.1% at $179.66; analysts hold a consensus "Moderate Buy" with an average target of $238.18 (11 Buys, 5 Holds), and the company has a market cap near $89.9 billion.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $220.00 to $222.00 in a report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the mining company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 23.56% from the company's current price.

A number of other research firms have also recently issued reports on AEM. Weiss Ratings cut Agnico Eagle Mines from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday. ATB Cormark Capital Markets raised Agnico Eagle Mines to an "outperform" rating in a research report on Monday. Wall Street Zen cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. TD Securities upped their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of "Moderate Buy" and an average target price of $238.18.

Agnico Eagle Mines Trading Down 2.1%

NYSE:AEM traded down $3.90 on Monday, reaching $179.66. The company's stock had a trading volume of 2,281,287 shares, compared to its average volume of 2,731,014. Agnico Eagle Mines has a 1-year low of $103.38 and a 1-year high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The firm has a market cap of $89.93 billion, a PE ratio of 16.89, a PEG ratio of 4.12 and a beta of 0.58. The business's 50-day moving average price is $211.77 and its two-hundred day moving average price is $192.04.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.69% and a net margin of 39.46%.The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The company's revenue was up 66.1% on a year-over-year basis. Equities research analysts anticipate that Agnico Eagle Mines will post 12.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. True Wealth Design LLC boosted its position in Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company's stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Acumen Wealth Advisors LLC acquired a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $26,000. Blue Bell Private Wealth Management LLC boosted its position in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. MCF Advisors LLC acquired a new position in Agnico Eagle Mines during the third quarter valued at approximately $34,000. Finally, Abound Wealth Management boosted its position in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company's stock valued at $35,000 after purchasing an additional 104 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

About Agnico Eagle Mines

Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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