Agnico Eagle Mines Limited (NYSE:AEM) Receives $86.78 Consensus Price Target from Brokerages

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $86.78.

Several equities research analysts recently issued reports on AEM shares. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada raised their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. TD Securities raised their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Scotiabank lifted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, UBS Group assumed coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $84.31 on Wednesday. The company has a market cap of $42.33 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 0.72 and a beta of 1.09. Agnico Eagle Mines has a 12 month low of $44.37 and a 12 month high of $89.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The company has a 50-day simple moving average of $82.68 and a 200-day simple moving average of $75.96.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AEM. Continuum Advisory LLC increased its stake in shares of Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after buying an additional 363 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the second quarter worth $32,000. FSC Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter worth $32,000. McClarren Financial Advisors Inc. increased its stake in shares of Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after buying an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in shares of Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after buying an additional 350 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

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.