National Bank Financial Forecasts Strong Price Appreciation for Agnico Eagle Mines (TSE:AEM) Stock

Key Points

• National Bank Financial raised its target price for Agnico Eagle Mines to C$345 (from C$330) and kept an "outperform" rating, implying roughly a 13.79% upside from the current price.
• Analyst views are mixed but generally positive: Stifel lifted its target to C$350 with a "buy", TD raised its target, while Erste cut to "hold" and JPMorgan is "neutral", leaving a MarketBeat consensus of Moderate Buy with a consensus target of C$320.75.
• The stock traded at C$303.19 mid-day, sits in a 12‑month range of C$144.21–C$348.94, has a market cap of C$151.89 billion, and posted recent quarterly EPS of C$3.71 with a 37.5% net margin and 19.37% ROE.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM had its target price boosted by analysts at National Bank Financial from C$330.00 to C$345.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 13.79% from the company's current price.

A number of other research firms have also weighed in on AEM. Stifel Nicolaus lifted their price objective on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Erste Group Bank lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. TD Securities boosted their price target on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. set a C$337.00 price target on shares of Agnico Eagle Mines and gave the company a "neutral" rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of "Moderate Buy" and a consensus price target of C$320.75.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded up C$8.63 during mid-day trading on Friday, reaching C$303.19. The company's stock had a trading volume of 448,609 shares, compared to its average volume of 1,034,407. Agnico Eagle Mines has a 12-month low of C$144.21 and a 12-month high of C$348.94. The company has a market capitalization of C$151.89 billion, a P/E ratio of 34.22, a PEG ratio of 22.97 and a beta of 1.87. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.89 and a current ratio of 2.02. The firm's fifty day moving average price is C$294.25 and its two-hundred day moving average price is C$261.90.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last released its quarterly earnings data 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. Sell-side analysts predict that Agnico Eagle Mines will post 5.4966052 EPS for the current fiscal year.

Insider Activity at Agnico Eagle Mines

In other news, insider Guy Gosselin sold 4,947 shares of the business's stock in a transaction on Friday, February 20th. The shares were 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 position. 0.08% of the stock is owned by company insiders.

Agnico Eagle Mines Company Profile

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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