Royal Bank Of Canada Analysts Give Agnico Eagle Mines Limited (NYSE:AEM) a $54.00 Price Target

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned a $54.00 target price by equities researchers at Royal Bank Of Canada in a report issued on Monday, June 12th. The firm currently has a “hold” rating on the mining company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 21.08% from the stock’s current price.

A number of other equities analysts have also commented on the company. TD Securities reissued a “hold” rating and issued a $48.00 price objective on shares of Agnico Eagle Mines Limited in a research note on Friday, April 28th. Zacks Investment Research lowered Agnico Eagle Mines Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Scotiabank reaffirmed an “outperform” rating and set a $56.50 price target on shares of Agnico Eagle Mines Limited in a research note on Friday, April 28th. J P Morgan Chase & Co raised Agnico Eagle Mines Limited from a “neutral” rating to an “overweight” rating in a research note on Wednesday, March 29th. Finally, TheStreet raised Agnico Eagle Mines Limited from a “c” rating to a “b-” rating in a research note on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $53.61.

Shares of Agnico Eagle Mines Limited (NYSE:AEM) traded up 2.06% during midday trading on Monday, hitting $44.60. 1,357,173 shares of the company were exchanged. Agnico Eagle Mines Limited has a one year low of $35.05 and a one year high of $60.10. The company’s 50 day moving average price is $47.99 and its 200 day moving average price is $45.27. The firm has a market cap of $10.27 billion, a P/E ratio of 49.56 and a beta of -0.67.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 27th. The mining company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. The company had revenue of $547.50 million for the quarter, compared to analyst estimates of $528.14 million. Agnico Eagle Mines Limited had a return on equity of 4.57% and a net margin of 9.43%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Equities analysts expect that Agnico Eagle Mines Limited will post $0.72 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.90%. The ex-dividend date was Tuesday, May 30th. Agnico Eagle Mines Limited’s payout ratio is 43.96%.

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A number of institutional investors have recently added to or reduced their stakes in AEM. FMR LLC raised its position in Agnico Eagle Mines Limited by 8.5% in the fourth quarter. FMR LLC now owns 11,200,604 shares of the mining company’s stock valued at $470,916,000 after buying an additional 874,108 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Agnico Eagle Mines Limited by 1.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 67,077 shares of the mining company’s stock valued at $2,817,000 after buying an additional 1,281 shares during the last quarter. Aviva PLC raised its position in Agnico Eagle Mines Limited by 6.5% in the fourth quarter. Aviva PLC now owns 147,148 shares of the mining company’s stock valued at $6,165,000 after buying an additional 9,045 shares during the last quarter. Credit Agricole S A raised its position in Agnico Eagle Mines Limited by 35.5% in the fourth quarter. Credit Agricole S A now owns 740,594 shares of the mining company’s stock valued at $31,104,000 after buying an additional 194,112 shares during the last quarter. Finally, Fox Point Capital Management LLC raised its position in Agnico Eagle Mines Limited by 100.0% in the fourth quarter. Fox Point Capital Management LLC now owns 50,000 shares of the mining company’s stock valued at $2,100,000 after buying an additional 25,000 shares during the last quarter. 60.65% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Limited Company Profile

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

Analyst Recommendations for Agnico Eagle Mines Limited (NYSE:AEM)

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