Agnico Eagle Mines Limited (AEM) Receives $54.94 Average Target Price from Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has earned a consensus rating of “Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $54.94.

AEM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Agnico Eagle Mines Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Credit Suisse Group set a $63.00 target price on shares of Agnico Eagle Mines Limited and gave the company a “buy” rating in a research report on Tuesday, July 18th. ValuEngine raised shares of Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Agnico Eagle Mines Limited in a research report on Thursday, June 15th. Finally, National Bank Financial raised shares of Agnico Eagle Mines Limited from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 24th.

Agnico Eagle Mines Limited (AEM) traded down 0.33% during trading on Wednesday, reaching $51.20. 746,793 shares of the company’s stock traded hands. Agnico Eagle Mines Limited has a 12-month low of $35.05 and a 12-month high of $57.35. The company has a market cap of $11.84 billion, a PE ratio of 47.06 and a beta of -0.71. The company has a 50 day moving average price of $47.46 and a 200-day moving average price of $45.96.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 26th. The mining company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. Agnico Eagle Mines Limited had a net margin of 11.32% and a return on equity of 5.38%. The business had revenue of $549.88 million for the quarter, compared to analyst estimates of $529.43 million. During the same period last year, the business earned $0.16 EPS. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post $0.80 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Wednesday, August 30th. Agnico Eagle Mines Limited’s payout ratio is currently 36.70%.

Institutional investors have recently modified their holdings of the business. Boulegeris Investments Inc. grew its position in Agnico Eagle Mines Limited by 135.7% during the 2nd quarter. Boulegeris Investments Inc. now owns 12,070 shares of the mining company’s stock worth $545,000 after purchasing an additional 6,950 shares during the last quarter. Aviva PLC grew its position in Agnico Eagle Mines Limited by 3.3% during the 2nd quarter. Aviva PLC now owns 144,463 shares of the mining company’s stock worth $6,508,000 after purchasing an additional 4,590 shares during the last quarter. Engineers Gate Manager LP grew its position in Agnico Eagle Mines Limited by 12.1% during the 1st quarter. Engineers Gate Manager LP now owns 27,800 shares of the mining company’s stock worth $1,180,000 after purchasing an additional 3,011 shares during the last quarter. Airain ltd purchased a new position in Agnico Eagle Mines Limited during the 2nd quarter worth $4,627,000. Finally, Fruth Investment Management purchased a new position in Agnico Eagle Mines Limited during the 2nd quarter worth $212,000. 59.08% of the stock is currently owned by institutional investors.

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Agnico Eagle Mines Limited Company Profile

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

Analyst Recommendations for Agnico Eagle Mines Limited (NYSE:AEM)

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