Agnico Eagle Mines Ltd (AEM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) have been assigned an average recommendation of “Buy” from the fifteen analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $50.00.

Several analysts recently weighed in on AEM shares. CIBC restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Sunday, December 16th. Desjardins restated an “average” rating and set a $60.00 price objective on shares of Agnico Eagle Mines in a research report on Monday, January 7th. ValuEngine raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Zacks Investment Research cut Agnico Eagle Mines from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of Agnico Eagle Mines in a report on Friday, December 14th.

Shares of AEM stock opened at $43.62 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.97 and a debt-to-equity ratio of 0.38. Agnico Eagle Mines has a twelve month low of $32.18 and a twelve month high of $47.83. The firm has a market cap of $10.50 billion, a P/E ratio of 143.32, a price-to-earnings-growth ratio of 87.98 and a beta of -0.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 14th. The mining company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.11. Agnico Eagle Mines had a positive return on equity of 1.48% and a negative net margin of 14.91%. The business had revenue of $537.82 million during the quarter, compared to the consensus estimate of $509.39 million. During the same period in the prior year, the company earned $0.21 EPS. On average, research analysts expect that Agnico Eagle Mines will post 0.5 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of AEM. Vanguard Group Inc. increased its stake in shares of Agnico Eagle Mines by 3.1% in the third quarter. Vanguard Group Inc. now owns 6,401,303 shares of the mining company’s stock valued at $218,925,000 after buying an additional 191,025 shares during the period. Vanguard Group Inc increased its stake in shares of Agnico Eagle Mines by 3.1% in the third quarter. Vanguard Group Inc now owns 6,401,303 shares of the mining company’s stock valued at $218,925,000 after buying an additional 191,025 shares during the period. Capital World Investors acquired a new stake in shares of Agnico Eagle Mines in the third quarter valued at about $171,117,000. TD Asset Management Inc. increased its stake in shares of Agnico Eagle Mines by 3.0% in the fourth quarter. TD Asset Management Inc. now owns 4,061,512 shares of the mining company’s stock valued at $163,852,000 after buying an additional 118,485 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Agnico Eagle Mines by 278.6% in the third quarter. JPMorgan Chase & Co. now owns 3,668,472 shares of the mining company’s stock valued at $125,461,000 after buying an additional 2,699,518 shares during the period. 60.20% of the stock is owned by institutional investors and hedge funds.

About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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