Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $115.00 at Royal Bank of Canada

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price increased by Royal Bank of Canada from $110.00 to $115.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the mining company’s stock.

Other analysts have also recently issued research reports about the stock. UBS Group cut shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and raised their target price for the company from $100.00 to $110.00 in a report on Monday, March 31st. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. TD Securities dropped their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and an average price target of $108.00.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $99.45 on Friday. Agnico Eagle Mines has a 52 week low of $60.15 and a 52 week high of $111.04. The company has a fifty day simple moving average of $99.77 and a two-hundred day simple moving average of $88.66. 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 company has a market cap of $50.02 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

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

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. Agnico Eagle Mines’s payout ratio is 42.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after purchasing an additional 318 shares during the period. Decker Retirement Planning Inc. purchased a new position in Agnico Eagle Mines in the 4th quarter valued at $29,000. Fifth Third Bancorp increased its stake in Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after buying an additional 260 shares during the period. Finally, Duncker Streett & Co. Inc. raised its position in Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after buying an additional 112 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

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.