Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High After Analyst Upgrade

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) reached a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock from $96.00 to $105.00. Royal Bank of Canada currently has an outperform rating on the stock. Agnico Eagle Mines traded as high as $101.45 and last traded at $100.46, with a volume of 2388226 shares trading hands. The stock had previously closed at $98.35.

AEM has been the topic of a number of other reports. Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Scotiabank increased their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.75.

Hedge Funds Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently bought and sold shares of AEM. Van ECK Associates Corp boosted its stake in shares of Agnico Eagle Mines by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the period. Vanguard Group Inc. grew its holdings in Agnico Eagle Mines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock worth $1,554,180,000 after acquiring an additional 331,087 shares during the last quarter. FMR LLC increased its position in shares of Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after acquiring an additional 4,562,005 shares during the period. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $573,446,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after purchasing an additional 3,155,927 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The stock has a market capitalization of $49.99 billion, a P/E ratio of 49.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The stock has a 50-day moving average price of $85.95 and a two-hundred day moving average price of $82.89.

Agnico Eagle Mines Company Profile

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.