Agnico Eagle Mines Reaches New 52-Week High Following Analyst Upgrade (AEM)
Agnico Eagle Mines (NYSE:AEM)’s share price hit a new 52-week high during trading on Thursday after RBC Capital raised their price target on the stock from $43.00 to $49.00, AmericanBankingNews.com reports. The company traded as high as $41.79 and last traded at $40.99, with a volume of 1,477,500 shares traded. The stock had previously closed at $40.39.
AEM has been the subject of a number of other recent research reports. Analysts at Morgan Stanley raised their price target on shares of Agnico Eagle Mines from $39.00 to $41.00 in a research note on Tuesday. Separately, analysts at TD Securities upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Tuesday, June 17th. Finally, analysts at Barclays initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, June 17th. They set an “equal weight” rating and a $39.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $38.64.
The stock has a 50-day moving average of $34.18 and a 200-day moving average of $31.70. The company’s market cap is $7.140 billion.
Agnico Eagle Mines (NYSE:AEM) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.41. The company had revenue of $491.00 million for the quarter, compared to the consensus estimate of $438.30 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts expect that Agnico Eagle Mines will post $1.22 EPS for the current fiscal year.
Agnico Eagle Mines Limited (NYSE: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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