Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $115.00 at Royal Bank of Canada

Agnico Eagle Mines (NYSE:AEM - Free Report) TSE: AEM had its price target lifted by Royal Bank of Canada from $110.00 to $115.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the mining company's stock.

A number of other brokerages have also recently weighed in on AEM. UBS Group cut shares of Agnico Eagle Mines from a "buy" rating to a "neutral" rating and increased their target price for the stock from $100.00 to $110.00 in a report on Monday, March 31st. Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Wednesday, March 19th. National Bank Financial raised Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Scotiabank upped their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 21st. Finally, StockNews.com lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $111.40.

Remove Ads

Agnico Eagle Mines Stock Up 6.2 %

AEM traded up $6.24 during trading on Friday, hitting $106.37. The company had a trading volume of 3,326,565 shares, compared to its average volume of 2,387,864. The company has a market cap of $53.50 billion, a PE ratio of 28.14, a P/E/G 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. Agnico Eagle Mines has a 1-year low of $60.15 and a 1-year high of $111.04. The business has a 50-day moving average of $100.37 and a 200-day moving average of $89.08.

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

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.50%. Agnico Eagle Mines's dividend payout ratio is presently 42.33%.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors lifted its holdings in shares of Agnico Eagle Mines by 7.0% during the 3rd quarter. Captrust Financial Advisors now owns 5,316 shares of the mining company's stock valued at $428,000 after buying an additional 349 shares during the last quarter. Verition Fund Management LLC bought a new position in Agnico Eagle Mines during the third quarter valued at approximately $333,000. Benjamin Edwards Inc. acquired a new stake in Agnico Eagle Mines in the third quarter valued at approximately $432,000. Hilltop Holdings Inc. grew its position in Agnico Eagle Mines by 42.6% in the third quarter. Hilltop Holdings Inc. now owns 7,042 shares of the mining company's stock worth $567,000 after acquiring an additional 2,102 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Agnico Eagle Mines by 10.8% during the 3rd quarter. HighTower Advisors LLC now owns 50,066 shares of the mining company's stock worth $4,035,000 after purchasing an additional 4,865 shares during the last quarter. 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.