Agnico Eagle Mines’ (AEM) Average Rating Reaffirmed at Desjardins

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM)‘s stock had its “average” rating reaffirmed by equities researchers at Desjardins in a note issued to investors on Wednesday, AnalystRatings.com reports. They currently have a $63.00 price target on the mining company’s stock. Desjardins’ price target suggests a potential upside of 51.73% from the company’s previous close.

A number of other research firms also recently issued reports on AEM. CIBC reiterated a “buy” rating on shares of Agnico Eagle Mines in a report on Sunday, January 20th. ValuEngine upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Zacks Investment Research upgraded Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a report on Monday, April 22nd. Raymond James reiterated an “outperform” rating and issued a $56.00 price objective on shares of Agnico Eagle Mines in a report on Monday, April 29th. Finally, GMP Securities upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $51.37.

AEM opened at $41.52 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 2.96 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 135.77, a PEG ratio of 79.86 and a beta of -0.52. Agnico Eagle Mines has a 12-month low of $32.18 and a 12-month high of $47.83.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 25th. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The business had revenue of $532.20 million during the quarter, compared to the consensus estimate of $515.52 million. Agnico Eagle Mines had a positive return on equity of 1.47% and a negative net margin of 15.60%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share. On average, equities analysts predict that Agnico Eagle Mines will post 0.51 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Agnico Eagle Mines by 3.1% during the third quarter. Vanguard Group Inc. now owns 6,401,303 shares of the mining company’s stock valued at $218,925,000 after buying an additional 191,025 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 102.3% during the first quarter. CIBC Asset Management Inc now owns 4,304,555 shares of the mining company’s stock valued at $187,146,000 after buying an additional 2,176,927 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Agnico Eagle Mines by 3.0% during the first quarter. TD Asset Management Inc. now owns 4,182,185 shares of the mining company’s stock valued at $181,882,000 after buying an additional 120,673 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Agnico Eagle Mines by 278.6% during the third quarter. JPMorgan Chase & Co. now owns 3,668,472 shares of the mining company’s stock valued at $125,461,000 after buying an additional 2,699,518 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Agnico Eagle Mines by 1.5% during the fourth quarter. FMR LLC now owns 2,900,032 shares of the mining company’s stock valued at $117,046,000 after buying an additional 42,314 shares during the last quarter. 60.97% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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