Agnico Eagle Mines (NYSE:AEM) PT Raised to $78.00 at TD Securities

Agnico Eagle Mines (NYSE:AEM - Free Report) TSE: AEM had its price objective upped by TD Securities from $74.00 to $78.00 in a research note released on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the mining company's stock.

AEM has been the topic of several other reports. CIBC increased their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an outperform rating in a report on Tuesday. Raymond James increased their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an outperform rating in a report on Friday, January 12th. National Bank Financial reiterated an outperform overweight rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a hold rating in a report on Monday, April 22nd. Finally, Citigroup increased their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a buy rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $69.63.

Agnico Eagle Mines Trading Down 3.7 %

AEM stock traded down $2.46 during midday trading on Tuesday, reaching $63.35. The company's stock had a trading volume of 3,541,014 shares, compared to its average volume of 3,315,550. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $67.80. The stock has a market cap of $31.59 billion, a PE ratio of 66.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The business's 50-day simple moving average is $57.26 and its 200-day simple moving average is $52.80.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The firm had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the firm earned $0.57 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, sell-side analysts expect that Agnico Eagle Mines will post 2.77 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. Agnico Eagle Mines's payout ratio is 168.42%.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in AEM. Van ECK Associates Corp increased its stake in Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company's stock valued at $1,264,791,000 after buying an additional 1,995,127 shares during the last quarter. FIL Ltd increased its stake in Agnico Eagle Mines by 16.4% in the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company's stock valued at $1,102,481,000 after buying an additional 2,831,794 shares during the last quarter. Vanguard Group Inc. increased its stake in Agnico Eagle Mines by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company's stock valued at $963,320,000 after buying an additional 338,264 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Agnico Eagle Mines by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company's stock valued at $626,981,000 after buying an additional 152,166 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Agnico Eagle Mines by 0.4% in the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company's stock valued at $538,193,000 after buying an additional 41,068 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.