Agnico Eagle Mines (NYSE:AEM) Hits New 52-Week High – Still a Buy?

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $223.44 and last traded at $215.6260, with a volume of 3793107 shares changing hands. The stock had previously closed at $214.54.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. Bank of America boosted their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Finally, Citigroup increased their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Five analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $217.40.

Agnico Eagle Mines Trading Up 0.5%

The stock’s fifty day moving average price is $179.08 and its 200 day moving average price is $159.99. The stock has a market cap of $107.96 billion, a P/E ratio of 31.48, a PEG ratio of 0.62 and a beta of 0.63. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the business earned $1.14 EPS. Equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

Hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC increased its position in Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its stake in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. MCF Advisors LLC bought a new position in shares of Agnico Eagle Mines during the third quarter valued at $34,000. Lodestone Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $35,000. Finally, Abound Wealth Management raised its position in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

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.