Agnico Eagle Mines Limited (NYSE:AEM) Given Consensus Recommendation of “Buy” by Brokerages

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has earned a consensus recommendation of “Buy” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and five have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $211.70.

A number of equities research analysts have weighed in on AEM shares. TD Securities lifted their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Wall Street Zen upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 19th. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. Finally, UBS Group raised their target price on Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, December 1st.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $214.52 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The firm has a market cap of $107.40 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. The firm’s fifty day moving average price is $178.06 and its 200 day moving average price is $158.71. Agnico Eagle Mines has a 1-year low of $87.45 and a 1-year high of $215.95.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.76 by $0.40. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same quarter last year, the business earned $1.14 EPS. On average, sell-side analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ninety One UK Ltd grew its stake in Agnico Eagle Mines by 386.5% in the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock valued at $31,703,000 after acquiring an additional 149,506 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Agnico Eagle Mines by 1,560.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock valued at $8,205,000 after purchasing an additional 45,746 shares in the last quarter. Addenda Capital Inc. grew its position in shares of Agnico Eagle Mines by 2.3% in the third quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after purchasing an additional 15,965 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after purchasing an additional 602,489 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Agnico Eagle Mines by 12.7% during the 2nd quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock worth $52,101,000 after purchasing an additional 49,480 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.