Scotiabank Forecasts Strong Price Appreciation for Agnico Eagle Mines (NYSE:AEM) Stock

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective lifted by stock analysts at Scotiabank from $103.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s price objective indicates a potential upside of 17.67% from the stock’s previous close.

Separately, Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $90.50.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $89.23 on Tuesday. Agnico Eagle Mines has a one year low of $44.37 and a one year high of $90.49. The company has a market capitalization of $44.82 billion, a PE ratio of 44.62, a P/E/G ratio of 0.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The company has a 50-day simple moving average of $82.34 and a two-hundred day simple moving average of $80.73.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Perigon Wealth Management LLC boosted its position in Agnico Eagle Mines by 3.5% in the fourth quarter. Perigon Wealth Management LLC now owns 8,626 shares of the mining company’s stock valued at $726,000 after buying an additional 294 shares during the last quarter. Lebenthal Global Advisors LLC acquired a new stake in Agnico Eagle Mines during the 4th quarter valued at approximately $335,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at $602,000. Fifth Third Bancorp increased its stake in shares of Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after acquiring an additional 260 shares during the period. Finally, Brighton Jones LLC raised its holdings in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after purchasing an additional 331 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

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.