Agnico Eagle Mines Limited (NYSE:AEM) Receives $86.78 Consensus PT from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $86.78.

A number of equities analysts have recently commented on AEM shares. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $81.73 on Friday. The firm’s fifty day moving average price is $83.54 and its two-hundred day moving average price is $77.96. The stock has a market cap of $41.02 billion, a PE ratio of 40.87, a PEG ratio of 0.68 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $89.00.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Agnico Eagle Mines by 43.5% in the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after acquiring an additional 4,562,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after purchasing an additional 817,240 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Agnico Eagle Mines by 262.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock valued at $85,413,000 after buying an additional 767,912 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Agnico Eagle Mines by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after buying an additional 591,178 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Agnico Eagle Mines by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company’s stock worth $382,720,000 after buying an additional 546,542 shares during the last quarter. Institutional investors and hedge funds 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.