Citigroup Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to $80.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target hoisted by research analysts at Citigroup from $65.00 to $80.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the mining company’s stock. Citigroup’s price target would indicate a potential upside of 25.65% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. CIBC reduced their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Jefferies Financial Group raised their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Raymond James raised their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, TD Securities reduced their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $66.13.

Agnico Eagle Mines Stock Performance

Shares of AEM traded down $2.14 during mid-day trading on Tuesday, reaching $63.67. 1,117,181 shares of the company’s stock were exchanged, compared to its average volume of 3,283,152. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The stock has a market capitalization of $31.75 billion, a PE ratio of 67.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The business’s fifty day simple moving average is $57.26 and its 200-day simple moving average is $52.80. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, equities research analysts expect that Agnico Eagle Mines will post 2.77 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stephens Consulting LLC acquired a new position in shares of Agnico Eagle Mines during the 1st quarter worth $30,000. Bruce G. Allen Investments LLC acquired a new position in Agnico Eagle Mines in the 4th quarter valued at about $33,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Agnico Eagle Mines in the 3rd quarter valued at about $34,000. CVA Family Office LLC acquired a new position in Agnico Eagle Mines in the 4th quarter valued at about $36,000. Finally, Janiczek Wealth Management LLC raised its stake in Agnico Eagle Mines by 406.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the last quarter. 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.