Agnico Eagle Mines (NYSE:AEM) Stock Price Expected to Rise, TD Securities Analyst Says

Key Points

• TD Securities has raised its target price for Agnico Eagle Mines from $154.00 to $195.00, indicating a potential upside of 14.97% from the current price of the stock.
• Agnico Eagle Mines stock has been rated a Buy or stronger by multiple research firms, with a consensus rating of Buy and an average price target of $150.30.
• The company reported $1.94 earnings per share in its latest quarterly earnings, exceeding the consensus estimate by $0.11 and showing a 35.6% increase in revenue compared to the previous year.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM had its target price boosted by equities research analysts at TD Securities from $154.00 to $195.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the mining company's stock. TD Securities' price target suggests a potential upside of 14.97% from the company's current price.

Several other research firms have also recently weighed in on AEM. Zacks Research raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Bank of America raised their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Weiss Ratings reaffirmed a "buy (a)" rating on shares of Agnico Eagle Mines in a research report on Wednesday. UBS Group raised their target price on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Finally, CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Six equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $150.30.

Agnico Eagle Mines Stock Performance

AEM stock traded up $3.33 during midday trading on Wednesday, hitting $169.62. 2,435,159 shares of the company traded hands, compared to its average volume of 2,970,701. Agnico Eagle Mines has a twelve month low of $75.17 and a twelve month high of $172.21. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $147.11 and a 200-day simple moving average of $127.11. The stock has a market capitalization of $85.28 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the prior year, the business earned $1.07 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, equities research analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wedmont Private Capital acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth about $209,000. Veracity Capital LLC grew its position in shares of Agnico Eagle Mines by 3.5% during the 3rd quarter. Veracity Capital LLC now owns 3,337 shares of the mining company's stock worth $562,000 after buying an additional 113 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Agnico Eagle Mines by 122.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 40,503 shares of the mining company's stock worth $6,823,000 after buying an additional 22,336 shares during the period. Sonora Investment Management Group LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth about $427,000. Finally, Union Bancaire Privee UBP SA grew its position in shares of Agnico Eagle Mines by 1.6% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company's stock worth $749,000 after buying an additional 72 shares during the period. 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.

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