Agnico Eagle Mines (NYSE:AEM) Reaches New 1-Year High After Analyst Upgrade

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) reached a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock from $96.00 to $105.00. Royal Bank of Canada currently has an outperform rating on the stock. Agnico Eagle Mines traded as high as $101.45 and last traded at $100.46, with a volume of 2388226 shares. The stock had previously closed at $98.35.

AEM has been the topic of a number of other research reports. Scotiabank boosted their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.75.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently bought and sold shares of AEM. Versant Capital Management Inc acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC lifted its holdings in Agnico Eagle Mines by 859.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after buying an additional 318 shares during the period. Decker Retirement Planning Inc. acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $29,000. FSC Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the third quarter valued at about $32,000. Finally, Fifth Third Bancorp raised its holdings in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 1.2 %

The firm’s fifty day moving average price is $85.95 and its two-hundred day moving average price is $82.89. The stock has a market cap of $49.99 billion, a price-to-earnings ratio of 49.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

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.