Raymond James Issues Positive Forecast for Agnico Eagle Mines (NYSE:AEM) Stock Price

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price upped by Raymond James from $105.00 to $130.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the mining company’s stock.

Several other equities analysts have also weighed in on AEM. Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday. Scotiabank lifted their price objective on shares of 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. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $108.00.

Agnico Eagle Mines Trading Down 8.3 %

Agnico Eagle Mines stock opened at $99.45 on Friday. Agnico Eagle Mines has a 12 month low of $60.15 and a 12 month high of $111.04. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a market cap of $50.02 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.66 and a beta of 0.87. The company’s fifty day simple moving average is $99.77 and its 200-day simple moving average is $88.66.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, sell-side analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.61%. Agnico Eagle Mines’s payout ratio is 42.33%.

Hedge Funds Weigh In On Agnico Eagle Mines

Several large investors have recently bought and sold shares of AEM. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $573,446,000. Capital World Investors raised its stake in shares of Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after purchasing an additional 3,155,927 shares during the period. AGF Management Ltd. boosted its stake in Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after buying an additional 905,328 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Agnico Eagle Mines by 3.6% in 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 buying an additional 778,919 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

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.