Agnico Eagle Mines (NYSE:AEM) Hits New 1-Year High – Here’s What Happened

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) shares reached a new 52-week high on Tuesday . The company traded as high as $88.18 and last traded at $87.43, with a volume of 472276 shares changing hands. The stock had previously closed at $86.63.

Analyst Ratings Changes

Several research analysts recently weighed in on AEM shares. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. UBS Group began coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Scotiabank upped their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada lifted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Price Performance

The business’s 50-day moving average price is $81.45 and its 200 day moving average price is $72.96. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $44.34 billion, a P/E ratio of 93.31, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. Analysts anticipate that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc grew its holdings in shares of Agnico Eagle Mines by 24.1% during the 1st quarter. TD Asset Management Inc now owns 5,306,106 shares of the mining company’s stock valued at $316,700,000 after purchasing an additional 1,031,142 shares during the last quarter. Capital Wealth Planning LLC increased its stake in shares of Agnico Eagle Mines by 62.3% in the first quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock worth $156,304,000 after buying an additional 1,006,001 shares during the period. National Bank of Canada FI raised its holdings in Agnico Eagle Mines by 27.9% during the 1st quarter. National Bank of Canada FI now owns 4,007,554 shares of the mining company’s stock valued at $239,051,000 after buying an additional 874,920 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Agnico Eagle Mines by 10.8% in the 1st quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock worth $411,106,000 after acquiring an additional 672,503 shares during the last quarter. Finally, Progeny 3 Inc. bought a new position in shares of Agnico Eagle Mines during the second quarter valued at about $18,151,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

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.