CIBC Increases Agnico Eagle Mines Price Target to C$40.00 (AEM)
Equities researchers at CIBC hoisted their target price on shares of Agnico Eagle Mines (TSE:AEM) from C$38.00 to C$40.00 in a research report issued on Friday. CIBC’s target price points to a potential upside of 13.38% from the stock’s previous close.
Shares of Agnico Eagle Mines (TSE:AEM) opened at 35.28 on Friday. Agnico Eagle Mines has a 52 week low of $24.66 and a 52 week high of $39.30. The stock has a 50-day moving average of $33.79 and a 200-day moving average of $32.59. The company has a market cap of $6.141 billion and a P/E ratio of 46.22.
Agnico Eagle Mines (TSE:AEM) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.41. Analysts expect that Agnico Eagle Mines will post $1.00 EPS for the current fiscal year.
AEM has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Agnico Eagle Mines from C$29.00 to C$31.00 in a research note on Thursday, May 8th. They now have a “neutral” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Agnico Eagle Mines from C$36.00 to C$37.00 in a research note on Monday, May 5th. They now have an “overweight” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Agnico Eagle Mines from C$38.00 to C$39.00 in a research note on Monday, May 5th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$33.73.
Agnico Eagle Mines Limited (TSE:AEM) is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States.
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