Agnico Eagle Mines Limited (NYSE:AEM) Receives Average Recommendation of “Moderate Buy” from Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has received a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $86.78.

A number of research firms recently commented on AEM. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Scotiabank raised their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $83.72 on Friday. The firm has a market cap of $42.02 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 0.68 and a beta of 1.07. The company’s 50-day moving average price is $83.38 and its two-hundred day moving average price is $77.69. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 12 month low of $44.37 and a 12 month high of $89.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Continuum Advisory LLC boosted its position in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Agnico Eagle Mines during the 2nd quarter worth $32,000. FSC Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter worth about $32,000. McClarren Financial Advisors Inc. grew its stake in Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after acquiring an additional 445 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter worth about $48,000. Institutional investors 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.