Agnico Eagle Mines (NYSE:AEM) Issues Quarterly Earnings Results

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) issued its earnings results on Wednesday. The mining company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16, reports. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $1.83 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $86.28 on Friday. The firm has a 50 day moving average of $82.24 and a two-hundred day moving average of $73.96. The stock has a market capitalization of $43.29 billion, a PE ratio of 43.14, a P/E/G ratio of 0.71 and a beta of 1.10. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 52 week low of $44.37 and a 52 week high of $89.00.

Wall Street Analyst Weigh In

A number of brokerages have commented on AEM. Scotiabank lifted their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, October 4th. CIBC lifted their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Institutional Trading of Agnico Eagle Mines

Hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC increased its holdings in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares during the period. FSC Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the third quarter worth approximately $32,000. Abich Financial Wealth Management LLC purchased a new position in Agnico Eagle Mines in the second quarter worth approximately $32,000. McClarren Financial Advisors Inc. lifted 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 worth $41,000 after acquiring an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after acquiring an additional 350 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.