Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $105.00 at Royal Bank of Canada

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target increased by investment analysts at Royal Bank of Canada from $96.00 to $105.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the mining company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.51% from the stock’s current price.

AEM has been the subject of several other research reports. Scotiabank lifted their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.75.

Agnico Eagle Mines Stock Up 1.2 %

Shares of NYSE:AEM opened at $99.52 on Tuesday. The stock has a fifty day simple moving average of $85.95 and a two-hundred day simple moving average of $82.89. The stock has a market capitalization of $49.99 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines has a 12-month low of $44.37 and a 12-month high of $101.45. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AEM. Versant Capital Management Inc purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its holdings in shares of Agnico Eagle Mines by 859.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after acquiring an additional 318 shares during the period. Decker Retirement Planning Inc. purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at $29,000. FSC Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines during the third quarter valued at $32,000. Finally, Fifth Third Bancorp lifted its holdings in Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares during the period. 68.34% of the stock is owned by hedge funds and other 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.