Agnico Eagle Mines (AEM) Given a $56.00 Price Target by Scotiabank Analysts

Share on StockTwits

Scotiabank set a $56.00 price target on Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a report published on Tuesday. The firm currently has a buy rating on the mining company’s stock.

Several other research analysts have also recently commented on the stock. TheStreet cut shares of Agnico Eagle Mines from a b- rating to a c+ rating in a report on Wednesday, September 5th. JPMorgan Chase & Co. lowered their price target on shares of Agnico Eagle Mines from $65.00 to $50.00 and set an overweight rating for the company in a report on Monday, September 17th. Citigroup lowered their price target on shares of Agnico Eagle Mines from $45.00 to $38.00 and set a neutral rating for the company in a report on Wednesday, August 29th. Credit Suisse Group reiterated an outperform rating on shares of Agnico Eagle Mines in a report on Monday, September 10th. Finally, Royal Bank of Canada reiterated a buy rating and set a $54.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Agnico Eagle Mines presently has an average rating of Buy and a consensus price target of $54.25.

NYSE AEM opened at $35.61 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.94 and a debt-to-equity ratio of 0.35. Agnico Eagle Mines has a 52 week low of $32.18 and a 52 week high of $49.80. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 32.08 and a beta of -0.53.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, October 24th. The mining company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.06. Agnico Eagle Mines had a net margin of 4.60% and a return on equity of 1.75%. The company had revenue of $518.68 million during the quarter, compared to analysts’ expectations of $497.68 million. During the same quarter in the previous year, the business posted $0.22 EPS. The firm’s revenue was down 10.6% on a year-over-year basis. As a group, research analysts expect that Agnico Eagle Mines will post 0.14 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of AEM. Toronto Dominion Bank boosted its holdings in shares of Agnico Eagle Mines by 144.3% in the 2nd quarter. Toronto Dominion Bank now owns 1,641,990 shares of the mining company’s stock valued at $75,883,000 after buying an additional 969,997 shares in the last quarter. Addenda Capital Inc. raised its position in Agnico Eagle Mines by 88.5% in the 2nd quarter. Addenda Capital Inc. now owns 908,104 shares of the mining company’s stock valued at $39,786,000 after purchasing an additional 426,247 shares during the last quarter. Unigestion Holding SA purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at $15,802,000. CIBC Asset Management Inc raised its position in Agnico Eagle Mines by 19.2% in the 2nd quarter. CIBC Asset Management Inc now owns 1,843,348 shares of the mining company’s stock valued at $84,524,000 after purchasing an additional 296,758 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Agnico Eagle Mines by 13.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,755,600 shares of the mining company’s stock valued at $80,459,000 after purchasing an additional 209,800 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

See Also: Do stock splits help investors?

Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

Receive News & Ratings for Agnico Eagle Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agnico Eagle Mines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply