Agnico Eagle Mines (NYSE:AEM) Given New $140.00 Price Target at Citigroup

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target raised by equities researchers at Citigroup from $100.00 to $140.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the mining company’s stock. Citigroup’s price objective indicates a potential upside of 28.89% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. TD Securities cut their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Scotiabank raised their target price on 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. UBS Group downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and increased their price target for the stock from $100.00 to $110.00 in a report on Monday. Finally, Raymond James set a $105.00 target price on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and a consensus target price of $104.11.

Agnico Eagle Mines Stock Performance

AEM traded up $1.26 during trading on Monday, hitting $108.62. 1,937,731 shares of the company traded hands, compared to its average volume of 2,363,102. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The firm has a market cap of $54.63 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines has a one year low of $60.15 and a one year high of $110.36. The stock’s fifty day moving average is $97.96 and its 200 day moving average is $87.91.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, equities analysts predict that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Several large investors have recently bought and sold shares of the company. Cerity Partners LLC lifted its stake in Agnico Eagle Mines by 34.2% during the 3rd quarter. Cerity Partners LLC now owns 31,503 shares of the mining company’s stock valued at $2,538,000 after acquiring an additional 8,023 shares during the period. D.A. Davidson & CO. boosted its position in Agnico Eagle Mines by 7.3% in the third quarter. D.A. Davidson & CO. now owns 12,236 shares of the mining company’s stock worth $986,000 after purchasing an additional 831 shares during the last quarter. Fiduciary Trust Co bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter valued at about $219,000. Captrust Financial Advisors grew its position 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 acquiring an additional 349 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at approximately $333,000. 68.34% of the stock is owned by institutional investors.

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.