Royal Bank of Canada Increases Agnico Eagle Mines (NYSE:AEM) Price Target to $105.00

Agnico Eagle Mines (NYSE:AEM - Free Report) TSE: AEM had its price target raised by Royal Bank of Canada from $96.00 to $105.00 in a report released on Tuesday,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the mining company's stock.

Several other brokerages also recently weighed in on AEM. Scotiabank lifted their price objective 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. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of "Moderate Buy" and a consensus price target of $92.75.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock traded down $5.06 during trading hours on Tuesday, reaching $95.75. The company's stock had a trading volume of 4,623,011 shares, compared to its average volume of 1,902,290. The company's 50 day simple moving average is $86.51 and its 200 day simple moving average is $83.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines has a one year low of $45.75 and a one year high of $101.45. The stock has a market cap of $48.09 billion, a P/E ratio of 47.87, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 8.88% and a net margin of 12.86%. As a group, analysts expect that Agnico Eagle Mines will post 4.14 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 80.00%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently made changes to their positions in the company. Manatuck Hill Partners LLC lifted its position in Agnico Eagle Mines by 25.0% during the 4th quarter. Manatuck Hill Partners LLC now owns 30,000 shares of the mining company's stock valued at $2,346,000 after purchasing an additional 6,000 shares during the period. Wahed Invest LLC increased its stake in shares of Agnico Eagle Mines by 12.4% in the 4th quarter. Wahed Invest LLC now owns 7,361 shares of the mining company's stock valued at $576,000 after acquiring an additional 814 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $387,000. Caisse DE Depot ET Placement DU Quebec increased its stake in Agnico Eagle Mines by 304.5% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 913,936 shares of the mining company's stock worth $71,465,000 after purchasing an additional 687,971 shares in the last quarter. Finally, Parvin Asset Management LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $1,616,000. Institutional investors and hedge funds 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.