Agnico Eagle Mines (TSE:AEM) Price Target Raised to C$350.00 at National Bank Financial

Key Points

• National Bank Financial raised its price target on Agnico Eagle to C$350 (from C$345) and maintained a "sector outperform" rating, implying about a 43.15% upside from the prior close.
• The analyst consensus is a "Moderate Buy" with an average price target of C$324.20 (four Buy ratings, three Hold), while firms' targets vary widely—from BMO's C$370 to JPMorgan's lowered C$300.
• AEM shares traded down to C$244.50 (‑2.1% intraday) despite the upgrades; the company reported strong quarterly results (C$4.73 EPS) and healthy profitability metrics (ROE 22.08%, net margin 39.48%).

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM had its price objective hoisted by stock analysts at National Bank Financial from C$345.00 to C$350.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 43.15% from the company's previous close.

A number of other research analysts have also weighed in on AEM. TD Securities raised their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Stifel Nicolaus raised their target price on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a "sector" rating to an "outperform" rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on Agnico Eagle Mines from C$321.00 to C$300.00 in a research report on Thursday, April 23rd. Finally, BMO Capital Markets raised their target price on Agnico Eagle Mines from C$350.00 to C$370.00 in a research report on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines has an average rating of "Moderate Buy" and a consensus price target of C$324.20.

Agnico Eagle Mines Stock Down 2.1%

Agnico Eagle Mines stock traded down C$5.17 during mid-day trading on Monday, reaching C$244.50. The stock had a trading volume of 300,926 shares, compared to its average volume of 1,009,886. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.89 and a current ratio of 3.15. Agnico Eagle Mines has a fifty-two week low of C$144.21 and a fifty-two week high of C$348.94. The stock's 50-day simple moving average is C$290.83 and its 200-day simple moving average is C$265.06. The firm has a market capitalization of C$122.49 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 22.97 and a beta of 1.87.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last announced its quarterly earnings data on Thursday, April 30th. The company reported C$4.73 EPS for the quarter. Agnico Eagle Mines had a return on equity of 22.08% and a net margin of 39.48%.The firm had revenue of C$5.70 billion during the quarter. On average, sell-side analysts forecast that Agnico Eagle Mines will post 5.4966052 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Guy Gosselin sold 4,947 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the completion of the transaction, the insider directly owned 31,381 shares in the company, valued at C$9,728,110. The trade was a 13.62% decrease in their ownership of the stock. 0.08% of the stock is currently owned by insiders.

Agnico Eagle Mines Company Profile

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

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