Agnico Eagle Mines Limited (AEM) Receives $54.93 Average Target Price from Analysts
Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been given a consensus recommendation of “Buy” by the thirteen analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $54.93.
A number of research firms recently weighed in on AEM. National Bank Financial restated an “outperform market weight” rating on shares of Agnico Eagle Mines in a research note 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 note on Monday, October 23rd. Desjardins restated a “buy” rating on shares of Agnico Eagle Mines in a research note on Monday, December 11th. BMO Capital Markets set a $47.00 price target on Agnico Eagle Mines and gave the company a “hold” rating in a research note on Tuesday, November 14th. Finally, TD Securities set a $53.00 price target on Agnico Eagle Mines and gave the company a “hold” rating in a research note on Thursday, October 19th.
Agnico Eagle Mines (AEM) traded up $0.50 on Friday, reaching $44.33. The company had a trading volume of 1,088,090 shares, compared to its average volume of 1,534,987. Agnico Eagle Mines has a twelve month low of $37.43 and a twelve month 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 cap of $10,190.00, a PE ratio of 38.00, a PEG ratio of 43.48 and a beta of -0.73.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AEM. Sei Investments Co. grew its holdings in shares of 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 purchasing an additional 974 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in Agnico Eagle Mines in the third quarter valued at about $170,000. WFG Advisors LP boosted its stake in Agnico Eagle Mines by 8.6% in the second quarter. WFG Advisors LP now owns 3,889 shares of the mining company’s stock valued at $175,000 after buying an additional 309 shares in the last quarter. Oppenheimer & Close LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at about $209,000. Finally, High Pointe Capital Management LLC acquired a new stake in Agnico Eagle Mines in the third quarter valued at about $220,000. 58.31% of the stock is currently owned by institutional investors.
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Agnico Eagle Mines Company Profile
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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