Bank of America Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $142.00

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM had its target price boosted by research analysts at Bank of America from $119.00 to $142.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the mining company's stock. Bank of America's price objective points to a potential upside of 20.62% from the company's previous close.

Several other brokerages have also commented on AEM. Royal Bank of Canada raised their price target 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. Scotiabank lifted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a "sector outperform" rating in a research note on Tuesday, January 21st. Raymond James increased their price target on Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. StockNews.com cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, TD Securities lowered their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Agnico Eagle Mines has a consensus rating of "Buy" and an average target price of $111.90.

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Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded up $6.18 during trading on Tuesday, hitting $117.73. 7,646,636 shares of the company traded hands, compared to its average volume of 2,434,620. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The business's fifty day moving average is $101.63 and its 200-day moving average is $89.78. The stock has a market capitalization of $59.25 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines has a one year low of $60.15 and a one year high of $118.74.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate 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 analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in shares of Agnico Eagle Mines by 7.0% in the third quarter. Captrust Financial Advisors now owns 5,316 shares of the mining company's stock worth $428,000 after buying an additional 349 shares during the period. Verition Fund Management LLC purchased a new position in Agnico Eagle Mines during the 3rd quarter worth approximately $333,000. HighTower Advisors LLC raised its stake in Agnico Eagle Mines by 10.8% during the 3rd quarter. HighTower Advisors LLC now owns 50,066 shares of the mining company's stock valued at $4,035,000 after purchasing an additional 4,865 shares during the period. Integrated Wealth Concepts LLC raised its stake in Agnico Eagle Mines by 8.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,289 shares of the mining company's stock valued at $507,000 after purchasing an additional 486 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of Agnico Eagle Mines by 10.8% in the third quarter. Quantinno Capital Management LP now owns 17,561 shares of the mining company's stock valued at $1,415,000 after purchasing an additional 1,713 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

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.