Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) has been given a $62.00 price objective by research analysts at Credit Suisse Group in a research note issued on Thursday, December 28th. The brokerage currently has a “buy” rating on the mining company’s stock. Credit Suisse Group’s price objective points to a potential upside of 31.27% from the stock’s current price.
Other research analysts have also recently issued reports about the company. National Bank Financial reissued an “outperform market weight” rating on shares of Agnico Eagle Mines in a research report on Friday, September 8th. Royal Bank of Canada set a $53.00 price target on Agnico Eagle Mines and gave the company a “hold” rating in a research report on Monday, October 23rd. Desjardins reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, December 11th. BMO Capital Markets set a $47.00 price objective on Agnico Eagle Mines and gave the company a “hold” rating in a research report on Tuesday, November 14th. Finally, TD Securities set a $53.00 price objective on Agnico Eagle Mines and gave the company a “hold” rating in a research report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.05.
Agnico Eagle Mines (AEM) opened at $47.23 on Thursday. Agnico Eagle Mines has a 52-week low of $39.30 and a 52-week high of $51.86. The company has a current ratio of 3.85, a quick ratio of 2.70 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10,726.46, a P/E ratio of 40.26, a P/E/G ratio of 48.99 and a beta of -0.74.
Institutional investors have recently bought and sold shares of the business. Sei Investments Co. increased its stake in Agnico Eagle Mines by 75.7% during the 2nd quarter. Sei Investments Co. now owns 2,260 shares of the mining company’s stock worth $102,000 after acquiring an additional 974 shares during the period. Pinebridge Investments L.P. bought a new position in Agnico Eagle Mines during the 3rd quarter worth $170,000. WFG Advisors LP increased its stake in Agnico Eagle Mines by 8.6% during the 2nd quarter. WFG Advisors LP now owns 3,889 shares of the mining company’s stock worth $175,000 after acquiring an additional 309 shares during the period. Oppenheimer & Close LLC bought a new position in Agnico Eagle Mines during the 2nd quarter worth $209,000. Finally, High Pointe Capital Management LLC bought a new position in Agnico Eagle Mines during the 3rd quarter worth $220,000. Hedge funds and other institutional investors own 58.31% of the company’s stock.
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About Agnico Eagle Mines
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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