Agnico Eagle Mines (NYSE:AEM) Stock Price Up 3.9%

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) shares shot up 3.9% during trading on Friday . The company traded as high as $64.11 and last traded at $64.09. 1,971,469 shares changed hands during trading, a decline of 38% from the average session volume of 3,180,142 shares. The stock had previously closed at $61.67.

Analysts Set New Price Targets

A number of research firms have commented on AEM. Raymond James upped their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. TD Securities lowered their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. CIBC lowered their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group started coverage on Agnico Eagle Mines in a research report on Thursday, February 29th. They set a “hold” rating and a $54.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.71.

Agnico Eagle Mines Price Performance

The stock has a market cap of $30.64 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 0.92 and a beta of 1.06. The firm has a 50-day moving average price of $53.62 and a 200-day moving average price of $51.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The business’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, analysts forecast that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.40 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. Agnico Eagle Mines’s payout ratio is currently 38.93%.

Institutional Trading of Agnico Eagle Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Annex Advisory Services LLC purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter worth approximately $3,308,000. Global Assets Advisory LLC purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter worth approximately $2,691,000. Murphy Pohlad Asset Management LLC boosted its stake in Agnico Eagle Mines by 2.1% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 60,182 shares of the mining company’s stock valued at $3,590,000 after purchasing an additional 1,266 shares during the last quarter. Royal Fund Management LLC boosted its stake in Agnico Eagle Mines by 5.9% during the 1st quarter. Royal Fund Management LLC now owns 26,412 shares of the mining company’s stock valued at $1,575,000 after purchasing an additional 1,461 shares during the last quarter. Finally, Benson Investment Management Company Inc. purchased a new stake in Agnico Eagle Mines during the 1st quarter valued at $5,287,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.