Agnico Eagle Mines Limited (NYSE:AEM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $90.50.

A number of analysts have commented on the company. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. 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.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased 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 in the last quarter. FMR LLC increased its holdings in Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after buying an additional 4,562,005 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Agnico Eagle Mines by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock valued at $499,956,000 after buying an additional 332,576 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 16.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after acquiring an additional 817,240 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Agnico Eagle Mines by 7.4% during the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after acquiring an additional 285,565 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 0.6 %

NYSE:AEM opened at $98.34 on Monday. The company has a market capitalization of $49.39 billion, a P/E ratio of 49.17, a PEG ratio of 0.66 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 12 month low of $44.37 and a 12 month high of $100.07. The firm has a fifty day simple moving average of $85.07 and a 200-day simple moving average of $82.41.

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.