TD Securities Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $251.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price lifted by equities research analysts at TD Securities from $241.00 to $251.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the mining company’s stock. TD Securities’ target price indicates a potential upside of 8.12% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a research report on Sunday, December 7th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $185.00 to $205.00 in a research report on Wednesday, December 10th. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $232.15 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $116.31 billion, a P/E ratio of 26.14 and a beta of 0.61. The stock has a 50 day simple moving average of $205.98 and a 200 day simple moving average of $177.13. Agnico Eagle Mines has a 1-year low of $94.77 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 60.3% on a year-over-year basis. Research analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $1,367,783,000. Capital World Investors grew its position in shares of 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. Van ECK Associates Corp increased its stake in Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after acquiring an additional 3,062,705 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after purchasing an additional 2,319,131 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Agnico Eagle Mines by 48.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after buying an additional 1,474,385 shares during the last quarter. 68.34% of the stock is currently owned by 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.