Brokerages Set Agnico Eagle Mines Limited (NYSE:AEM) Target Price at $90.50

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been given an average rating of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $90.50.

AEM has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Scotiabank increased their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st.

Institutional Trading of Agnico Eagle Mines

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Agnico Eagle Mines by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock valued at $91,681,000 after purchasing an additional 32,991 shares during the period. Bridgewater Associates LP boosted its holdings in Agnico Eagle Mines by 123.2% in the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after purchasing an additional 112,712 shares during the last quarter. Caldwell Investment Management Ltd. grew its stake in shares of Agnico Eagle Mines by 12.0% in the 4th quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock valued at $6,812,000 after buying an additional 9,400 shares during the period. Forsta AP Fonden increased its holdings in shares of Agnico Eagle Mines by 8.9% during the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after buying an additional 16,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Agnico Eagle Mines by 14.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after buying an additional 29,106 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Down 0.6 %

AEM stock opened at $98.34 on Monday. The stock has a market capitalization of $49.39 billion, a P/E ratio of 49.17, a P/E/G ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines has a 52 week low of $44.37 and a 52 week high of $100.07. The firm has a 50-day simple moving average of $85.07 and a 200-day simple moving average of $82.41. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

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.