Royal Bank of Canada Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $87.00

Agnico Eagle Mines (NYSE:AEMFree Report) (TSE:AEM) had its price objective boosted by Royal Bank of Canada from $80.00 to $87.00 in a research report report published on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the mining company’s stock.

AEM has been the subject of several other research reports. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a hold rating in a research report on Friday, July 12th. CIBC increased their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an outperformer rating in a report on Wednesday, July 10th. TD Securities lifted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a buy rating in a report on Friday, August 2nd. Scotiabank raised their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a sector outperform rating in a report on Monday, August 19th. Finally, BMO Capital Markets lowered their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an outperform rating for the company in a research report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $83.38.

Read Our Latest Research Report on Agnico Eagle Mines

Agnico Eagle Mines Stock Performance

AEM stock opened at $81.86 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $83.50. The company has a market cap of $40.95 billion, a P/E ratio of 86.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.10. The stock’s fifty day moving average price is $76.95 and its 200-day moving average price is $67.45.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last announced its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Agnico Eagle Mines will post 3.65 earnings per share for the current year.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds have recently bought and sold shares of AEM. Financial Sense Advisors Inc. raised its stake in shares of Agnico Eagle Mines by 372.3% during the first quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock valued at $3,718,000 after acquiring an additional 49,132 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Agnico Eagle Mines during the 4th quarter valued at $2,297,000. Manning & Napier Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $2,595,000. FIL Ltd grew its position in shares of Agnico Eagle Mines by 16.4% during the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after buying an additional 2,831,794 shares in the last quarter. Finally, Crestline Management LP increased its stake in shares of Agnico Eagle Mines by 28.8% during the fourth quarter. Crestline Management LP now owns 180,891 shares of the mining company’s stock valued at $9,922,000 after buying an additional 40,483 shares during the period. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

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Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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