Agnico Eagle Mines Limited (NYSE:AEM) Stock Has Average Price Target of $224.38 According to Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $224.33.

Several equities research analysts have issued reports on the stock. Raymond James Financial cut their price objective on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 4th. Canadian Imperial Bank of Commerce set a $239.00 target price on Agnico Eagle Mines in a research report on Friday, October 16th. Royal Bank Of Canada upped their price objective on Agnico Eagle Mines from $210.00 to $225.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Scotiabank cut their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, Bank of America decreased their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th.

Agnico Eagle Mines Stock Up 2.8%

AEM stock opened at $180.53 on Wednesday. The company has a fifty day moving average price of $194.37 and a two-hundred day moving average price of $189.71. Agnico Eagle Mines has a one year low of $134.38 and a one year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. Research analysts forecast that Agnico Eagle Mines will post 11.43 EPS for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. VestGen Advisors LLC purchased a new position in Agnico Eagle Mines in the third quarter valued at about $212,000. Laurel Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter valued at $47,000. Convergence Financial LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter valued at $463,000. Angeles Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at $200,000. Finally, Viewpoint Investment Partners Corp grew its stake in shares of Agnico Eagle Mines by 2.7% during the 3rd quarter. Viewpoint Investment Partners Corp now owns 11,259 shares of the mining company’s stock worth $2,063,000 after acquiring an additional 300 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Key Agnico Eagle Mines News

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Seventeen analysts have set an average price target of US$224.38, implying substantial upside from the stock’s current level. The consensus indicates that analysts continue to value AEM’s production profile, balance sheet and exposure to elevated gold prices. Agnico Eagle stock draws a USD 224.38 average target from 17 analysts
• Positive Sentiment: Barclays assigned AEM a US$218 target, reinforcing the broader analyst view that the shares remain attractive despite recent operating and cost concerns. Barclays sets target for Agnico Eagle Mines stock at USD 218.00
• Neutral Sentiment: AEM is expected to report third-quarter results on Wednesday. Higher realized gold prices should support revenue, earnings and cash flow, while investors will assess production volumes, all-in sustaining costs and management’s outlook. AEM to Report Q3 Earnings: What’s in the Offing for the Stock?
• Negative Sentiment: Analysts expect production challenges and rising costs to weigh on quarterly performance. A separate investment view rates AEM “Hold,” arguing that its strong operations and competitive costs are already reflected in a premium valuation, leaving limited upside unless gold prices remain exceptionally strong. Agnico Eagle: Strong Operations, But Hard To See Further Upside

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.