Agnico Eagle Mines Limited (NYSE:AEM) Given Consensus Recommendation of “Buy” by Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been given a consensus recommendation of “Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and six have given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $201.60.

Several brokerages recently commented on AEM. Weiss Ratings reiterated a “buy (a-)” rating on shares of Agnico Eagle Mines in a report on Monday. Raymond James Financial increased their price objective on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Citigroup upped their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, TD Securities raised their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th.

Agnico Eagle Mines Stock Up 0.2%

Shares of Agnico Eagle Mines stock opened at $181.58 on Thursday. The company has a fifty day moving average price of $167.47 and a 200 day moving average price of $148.46. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a twelve month low of $76.91 and a twelve month high of $187.50. The stock has a market cap of $91.10 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 0.66 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Equities research analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors grew its stake in Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Agnico Eagle Mines by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock valued at $3,481,382,000 after purchasing an additional 252,043 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after buying an additional 602,489 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Agnico Eagle Mines by 1.5% during the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after buying an additional 143,645 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Agnico Eagle Mines by 1.9% during the second quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after buying an additional 160,650 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.