Agnico Eagle Mines (NYSE:AEM) Shares Gap Up - Still a Buy?

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM's share price gapped up before the market opened on Monday . The stock had previously closed at $121.53, but opened at $126.20. Agnico Eagle Mines shares last traded at $125.24, with a volume of 548,325 shares.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AEM. Raymond James boosted their price objective on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. StockNews.com downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Bank of America increased their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. 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 research note on Wednesday, February 19th. Finally, Jefferies Financial Group raised their price target 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. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of "Buy" and an average target price of $124.40.

Agnico Eagle Mines Stock Performance

The stock has a market cap of $59.73 billion, a P/E ratio of 31.40, a PEG ratio of 0.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The company has a fifty day moving average of $106.09 and a 200 day moving average of $92.48.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. On average, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. Agnico Eagle Mines's dividend payout ratio is currently 42.33%.

Institutional Trading of Agnico Eagle Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in shares of Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company's stock valued at $1,745,858,000 after acquiring an additional 778,919 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock worth $1,554,180,000 after purchasing an additional 331,087 shares during the period. Capital World Investors lifted its holdings in shares of Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Agnico Eagle Mines by 0.7% in the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock valued at $932,008,000 after purchasing an additional 87,410 shares during the period. Finally, Norges Bank purchased a new position in Agnico Eagle Mines in the 4th quarter worth about $573,446,000. 68.34% of the stock is owned by institutional investors and hedge funds.

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.