Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High at $85.14

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $85.14 and last traded at $84.93, with a volume of 577553 shares changing hands. The stock had previously closed at $84.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a "buy" rating and a $95.00 target price on the stock. TD Securities upped their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a "buy" rating in a report on Friday, August 2nd. BMO Capital Markets cut their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an "outperform" rating for the company in a research note on Thursday, June 20th. Scotiabank upped their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. Finally, StockNews.com raised Agnico Eagle Mines from a "hold" rating to a "buy" rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $84.67.

Agnico Eagle Mines Price Performance

The company has a fifty day moving average of $78.66 and a 200-day moving average of $69.56. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.25 billion, a PE ratio of 88.67, a P/E/G ratio of 0.78 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. The business's revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts expect that Agnico Eagle Mines Limited will post 3.73 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Large investors have recently modified their holdings of the stock. Continuum Advisory LLC raised its holdings in Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company's stock valued at $26,000 after acquiring an additional 363 shares in the last quarter. Stephens Consulting LLC purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter worth $30,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth $32,000. Janiczek Wealth Management LLC increased its holdings in Agnico Eagle Mines by 406.4% in the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company's stock valued at $42,000 after buying an additional 569 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new position in Agnico Eagle Mines in the fourth quarter valued at $47,000. Hedge funds and other institutional investors 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.