Agnico Eagle Mines Limited (NYSE:AEM) Stock Has Consensus Price Target of $227.15 According to Analysts

Key Points

• Agnico Eagle Mines has a “Moderate Buy” consensus rating from 17 analysts, with 12 buys and 5 holds. The average 12-month price target is $227.15, above the reported share price of $194.39.
• Institutional investors and hedge funds own 68.34% of the company, with several firms adding to or initiating positions during the second quarter.
• Agnico Eagle exceeded quarterly earnings expectations, reporting EPS of $3.05 versus the $2.89 consensus estimate. Revenue rose 35% year over year to $3.77 billion, while analysts forecast full-year EPS of $11.46.

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM has been given an average rating of "Moderate Buy" by the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $227.15.

AEM has been the topic of a number of recent analyst reports. Raymond James Financial cut their price objective on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an "outperform" rating on the stock in a research note on Friday, September 4th. Bank of America decreased their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Canadian Imperial Bank of Commerce set a $285.00 price objective on Agnico Eagle Mines in a research note on Thursday, July 16th. Finally, UBS Group dropped their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BIP Wealth LLC bought a new stake in Agnico Eagle Mines during the second quarter valued at about $1,167,000. Annex Advisory Services LLC raised its stake 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 in the last quarter. K.J. Harrison & Partners Inc bought a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $6,923,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in Agnico Eagle Mines by 12.0% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company's stock valued at $16,046,000 after purchasing an additional 11,100 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of Agnico Eagle Mines during the second quarter valued at $737,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $194.39 on Friday. 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 firm's 50-day simple moving average is $184.94 and its 200-day simple moving average is $183.52. Agnico Eagle Mines has a 1 year low of $134.38 and a 1 year high of $255.24. The firm has a market cap of $98.54 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 2.43 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Agnico Eagle Mines's revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the company posted $1.94 earnings per share. Equities analysts forecast that Agnico Eagle Mines will post 11.46 earnings per share for the current fiscal year.

About Agnico Eagle Mines

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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