Agnico Eagle Mines (NYSE:AEM) Given New $225.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Agnico Eagle Mines’ price target to $225 from $210 while maintaining a “sector perform” rating, implying 13.06% potential upside.
• Analyst sentiment remains favorable, with 12 Buy ratings and five Holds contributing to a “Moderate Buy” consensus and average price target of $227.15.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion; institutional investors own 68.34% of the stock.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM had its price target upped by analysts at Royal Bank Of Canada from $210.00 to $225.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "sector perform" rating on the mining company's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 13.06% from the stock's current price.

AEM has been the topic of a number of other reports. Scotia decreased their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 3rd. Citigroup cut their target price on Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, July 27th. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "buy" rating and raised their price target for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Raymond James Financial dropped their price objective on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an "outperform" rating for the company in a research note on Friday, September 4th. Finally, Zacks Research raised shares of Agnico Eagle Mines from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $227.15.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded up $2.11 on Wednesday, reaching $199.01. The company's stock had a trading volume of 831,915 shares, compared to its average volume of 2,758,977. The company has a 50-day simple moving average of $176.20 and a 200 day simple moving average of $185.35. Agnico Eagle Mines has a 52-week low of $134.38 and a 52-week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company has a market cap of $100.88 billion, a P/E ratio of 16.99, a PEG ratio of 2.45 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business's revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 EPS. As a group, equities research analysts anticipate that Agnico Eagle Mines will post 11.58 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BIP Wealth LLC acquired a new position in Agnico Eagle Mines during the second quarter worth $1,167,000. Annex Advisory Services LLC grew its position in shares of Agnico Eagle Mines by 70.5% in the second quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company's stock valued at $4,500,000 after purchasing an additional 11,995 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in shares of Agnico Eagle Mines during the second quarter worth about $6,923,000. PensionDanmark Pensionsforsikringsaktieselskab raised its position in shares of Agnico Eagle Mines by 12.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company's stock worth $16,046,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Danske Bank A S purchased a new position in Agnico Eagle Mines in the 2nd quarter valued at about $737,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited is a Canadian-based gold mining company engaged in the exploration, development and production of gold and other mineral resources. The company's primary product is gold, with silver and other byproducts also recovered from certain operations. Its activities include operating mines, advancing development projects and conducting exploration to expand and replace mineral reserves.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world's major gold producers.

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