Agnico Eagle Mines (TSE:AEM) Price Target Raised to C$370.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target for Agnico Eagle to C$370 from C$350, implying roughly a 32.7% upside from the stock's previous close.
• Analyst sentiment is mixed-but-positive: MarketBeat shows a consensus rating of "Moderate Buy" with a consensus price target of C$330.60 after several firms (National Bank, Stifel, TD) raised targets while others remain neutral or downgraded.
• AEM traded at C$278.91 (up ~0.5%) with a market cap of about C$139.7B and a PE of ~31.5; the company reported quarterly EPS of C$3.71 and analysts expect roughly C$5.50 in EPS for the year.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM had its price objective hoisted by stock analysts at BMO Capital Markets from C$350.00 to C$370.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets' target price would suggest a potential upside of 32.66% from the company's previous close.

Several other research analysts have also recently commented on the stock. National Bank Financial raised their price objective on shares of Agnico Eagle Mines from C$330.00 to C$345.00 and gave the company an "outperform" rating in a report on Friday, April 17th. TD Securities raised their price objective on shares of 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. Erste Group Bank lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 24th. JPMorgan Chase & Co. set a C$337.00 target price on shares of Agnico Eagle Mines and gave the company a "neutral" rating in a report on Thursday, January 29th. Finally, Stifel Nicolaus upped their target price on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$330.60.

Agnico Eagle Mines Trading Up 0.5%

Shares of AEM traded up C$1.39 during trading on Wednesday, reaching C$278.91. 350,825 shares of the company traded hands, compared to its average volume of 1,036,522. Agnico Eagle Mines has a twelve month low of C$144.21 and a twelve month high of C$348.94. The stock has a market cap of C$139.73 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 22.97 and a beta of 1.87. The stock has a 50-day simple moving average of C$294.92 and a 200-day simple moving average of C$263.47. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 1.68.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last announced its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. The business had revenue of C$4.89 billion during the quarter. On average, analysts anticipate that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Insider Activity at Agnico Eagle Mines

In other news, insider Guy Gosselin sold 4,947 shares of the firm's stock in a transaction on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the completion of the sale, the insider owned 31,381 shares in the company, valued at approximately C$9,728,110. This trade represents a 13.62% decrease in their position. Company insiders own 0.08% of the company's stock.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.

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