Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $88.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target raised by Jefferies Financial Group from $85.00 to $88.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the mining company’s stock.

AEM has been the topic of several other reports. UBS Group started coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.11.

Agnico Eagle Mines Trading Up 2.8 %

Shares of Agnico Eagle Mines stock opened at $83.41 on Tuesday. Agnico Eagle Mines has a 1 year low of $44.37 and a 1 year 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 business has a 50 day moving average price of $81.82 and a 200 day moving average price of $79.45. The company has a market capitalization of $41.86 billion, a P/E ratio of 41.71, a P/E/G ratio of 0.68 and a beta of 1.08.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AEM. FMR LLC increased its position in Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after purchasing an additional 4,562,005 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Agnico Eagle Mines by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock valued at $868,638,000 after buying an additional 134,872 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Agnico Eagle Mines by 16.1% during 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 buying an additional 817,240 shares during the last quarter. National Bank of Canada FI raised its position in shares of Agnico Eagle Mines by 7.4% in the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after buying an additional 285,565 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Agnico Eagle Mines by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock valued at $326,571,000 after acquiring an additional 591,178 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

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.