Scotiabank Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $126.00

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM had its price objective hoisted by equities research analysts at Scotiabank from $105.00 to $126.00 in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a "sector outperform" rating on the mining company's stock. Scotiabank's price objective would indicate a potential upside of 3.64% from the company's previous close.

A number of other brokerages also recently weighed in on AEM. StockNews.com downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. TD Securities reduced their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. UBS Group upped their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Royal Bank of Canada upped their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, Citigroup raised their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has an average rating of "Buy" and a consensus price target of $124.40.

Agnico Eagle Mines Stock Down 0.8 %

Shares of NYSE AEM traded down $0.96 on Monday, hitting $121.58. The company had a trading volume of 3,552,155 shares, compared to its average volume of 2,417,228. The firm has a market capitalization of $61.19 billion, a P/E ratio of 32.16, a PEG ratio of 0.66 and a beta of 0.87. The business has a 50 day moving average of $103.84 and a two-hundred day moving average of $91.07. Agnico Eagle Mines has a 12-month low of $61.56 and a 12-month high of $125.94. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, equities research analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently modified their holdings of AEM. Norges Bank acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter worth $573,446,000. Capital World Investors increased its position in Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after acquiring an additional 4,121,164 shares during the period. 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 worth $551,339,000 after purchasing an additional 3,155,927 shares during the last quarter. AGF Management Ltd. boosted its holdings in Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock valued at $109,205,000 after acquiring an additional 905,328 shares during the last quarter. Finally, Van ECK Associates Corp increased its position 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 worth $1,745,858,000 after buying an additional 778,919 shares during the period. 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.