Raymond James Financial Cuts Agnico Eagle Mines (NYSE:AEM) Price Target to $225.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price decreased by Raymond James Financial from $230.00 to $225.00 in a report published on Friday morning,BayStreet reports. Raymond James Financial currently has an outperform rating on the mining company’s stock.

A number of other analysts also recently issued reports on AEM. JPMorgan Chase & Co. lifted their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Scotiabank lowered their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Scotia dropped their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Finally, Barclays cut their price target on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Trading Up 0.0%

Shares of AEM stock opened at $204.75 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. Agnico Eagle Mines has a 52-week low of $134.38 and a 52-week high of $255.24. The company has a market capitalization of $103.79 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.55 and a beta of 0.67. The business’s fifty day moving average is $169.72 and its 200 day moving average is $186.84.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the company earned $1.94 earnings per share. On average, equities research analysts anticipate that Agnico Eagle Mines will post 11.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently modified their holdings of AEM. HighTower Advisors LLC raised its holdings in shares of Agnico Eagle Mines by 10.4% during the 2nd quarter. HighTower Advisors LLC now owns 55,426 shares of the mining company’s stock valued at $8,598,000 after buying an additional 5,209 shares in the last quarter. Groupe la Francaise boosted its stake in Agnico Eagle Mines by 11.4% in the second quarter. Groupe la Francaise now owns 291,666 shares of the mining company’s stock worth $45,336,000 after buying an additional 29,831 shares in the last quarter. Wedmont Private Capital boosted its stake in Agnico Eagle Mines by 27.5% in the second quarter. Wedmont Private Capital now owns 1,644 shares of the mining company’s stock worth $241,000 after buying an additional 355 shares in the last quarter. HB Wealth Management LLC grew its position in Agnico Eagle Mines by 7.7% during the second quarter. HB Wealth Management LLC now owns 7,199 shares of the mining company’s stock valued at $1,117,000 after acquiring an additional 513 shares during the last quarter. Finally, Markowski Investments bought a new position in Agnico Eagle Mines during the second quarter valued at approximately $29,000. 68.34% of the stock is currently owned by hedge funds and other 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.