Bank of America Raises Agnico Eagle Mines (NYSE:AEM) Price Target to $142.00

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target upped by Bank of America from $119.00 to $142.00 in a research note issued to investors on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the mining company’s stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank lifted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. TD Securities dropped their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. UBS Group lowered shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and increased their target price for the stock from $100.00 to $110.00 in a research report on Monday, March 31st. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and an average price target of $111.40.

Agnico Eagle Mines Stock Up 0.3 %

Agnico Eagle Mines stock opened at $99.97 on Tuesday. The company’s 50-day moving average price is $100.37 and its two-hundred day moving average price is $89.08. 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 stock has a market cap of $50.29 billion, a P/E ratio of 26.45, a P/E/G ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines has a twelve month low of $60.15 and a twelve month high of $111.04.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

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

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently modified their holdings of AEM. Norges Bank bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth $573,446,000. Capital World Investors raised its stake in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after acquiring an additional 3,155,927 shares during the last quarter. AGF Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 184.6% in the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after purchasing an additional 905,328 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

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.