CIBC Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $81.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target upped by equities research analysts at CIBC from $80.00 to $81.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. CIBC’s price objective points to a potential upside of 26.70% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Raymond James lifted their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Citigroup lifted their price target on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. TD Securities lowered their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Finally, Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.63.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded down $1.88 during trading on Tuesday, reaching $63.93. 1,977,869 shares of the stock were exchanged, compared to its average volume of 3,295,150. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. Agnico Eagle Mines has a 12 month low of $43.22 and a 12 month high of $67.80. The stock has a 50-day moving average price of $57.26 and a 200-day moving average price of $52.80. The firm has a market cap of $31.88 billion, a PE ratio of 67.23, a PEG ratio of 0.89 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. Research analysts expect that Agnico Eagle Mines will post 2.77 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Several institutional investors have recently modified their holdings of AEM. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $325,327,000. FIL Ltd boosted its position in Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after acquiring an additional 2,831,794 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Agnico Eagle Mines during the fourth quarter valued at $132,257,000. Van ECK Associates Corp boosted its position in Agnico Eagle Mines by 9.5% during the fourth quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after acquiring an additional 1,995,127 shares during the last quarter. Finally, Capital Wealth Planning LLC bought a new stake in Agnico Eagle Mines during the fourth quarter valued at $88,547,000. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.