Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) has been assigned a $57.00 target price by research analysts at Scotiabank in a research note issued on Saturday. The brokerage presently has a “buy” rating on the mining company’s stock. Scotiabank’s price objective suggests a potential upside of 32.25% from the stock’s previous close.
AEM has been the topic of a number of other reports. Desjardins reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research note on Monday, December 11th. BMO Capital Markets set a $47.00 price objective on shares of Agnico Eagle Mines and gave the company a “hold” rating in a research note on Tuesday, November 14th. Zacks Investment Research cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Credit Suisse Group set a $62.00 price objective on shares of Agnico Eagle Mines and gave the company a “buy” rating in a research note on Thursday, December 28th. Finally, TD Securities raised their price objective on shares of Agnico Eagle Mines from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, January 12th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $57.80.
Shares of Agnico Eagle Mines (NYSE:AEM) traded down $2.00 during mid-day trading on Friday, reaching $43.10. 3,760,000 shares of the company’s stock were exchanged, compared to its average volume of 1,480,000. Agnico Eagle Mines has a 1 year low of $39.30 and a 1 year high of $51.86. The company has a market capitalization of $10,030.00, a PE ratio of 36.84, a PEG ratio of 41.91 and a beta of -0.59. The company has a current ratio of 3.85, a quick ratio of 2.70 and a debt-to-equity ratio of 0.28.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pinebridge Investments L.P. bought a new position in shares of Agnico Eagle Mines during the third quarter worth $170,000. High Pointe Capital Management LLC bought a new position in shares of Agnico Eagle Mines during the third quarter worth $220,000. US Bancorp DE boosted its position in shares of Agnico Eagle Mines by 35.2% during the fourth quarter. US Bancorp DE now owns 5,837 shares of the mining company’s stock worth $270,000 after purchasing an additional 1,521 shares in the last quarter. OxFORD Asset Management LLP bought a new position in shares of Agnico Eagle Mines during the second quarter worth $286,000. Finally, Premia Global Advisors LLC bought a new position in shares of Agnico Eagle Mines during the fourth quarter worth $335,000. 58.09% of the stock is currently owned by institutional investors.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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