Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $130.00 at Raymond James

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price lifted by Raymond James from $105.00 to $130.00 in a report released on Friday,Benzinga reports. Raymond James currently has an outperform rating on the mining company’s stock.

Several other research firms also recently weighed in on AEM. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Citigroup upped their price target on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, TD Securities lowered their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $108.00.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $99.45 on Friday. The firm’s 50 day moving average is $99.77 and its two-hundred day moving average is $88.66. The firm has a market capitalization of $50.02 billion, a P/E ratio of 26.31, a PEG ratio of 0.66 and a beta of 0.87. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 52 week low of $60.15 and a 52 week high of $111.04.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors lifted its position in shares of Agnico Eagle Mines by 7.0% in the 3rd quarter. Captrust Financial Advisors now owns 5,316 shares of the mining company’s stock valued at $428,000 after acquiring an additional 349 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Agnico Eagle Mines in the third quarter valued at $333,000. Benjamin Edwards Inc. acquired a new stake in shares of Agnico Eagle Mines in the third quarter worth $432,000. Hilltop Holdings Inc. grew its holdings in shares of Agnico Eagle Mines by 42.6% during the third quarter. Hilltop Holdings Inc. now owns 7,042 shares of the mining company’s stock valued at $567,000 after buying an additional 2,102 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in Agnico Eagle Mines by 10.8% during the third quarter. HighTower Advisors LLC now owns 50,066 shares of the mining company’s stock valued at $4,035,000 after buying an additional 4,865 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.