Agnico Eagle Mines (NYSE:AEM) Price Target Raised to $88.00 at Jefferies Financial Group

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price boosted by analysts at Jefferies Financial Group from $85.00 to $88.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 7.43% from the stock’s previous close.

AEM has been the topic of several other research reports. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. UBS Group initiated coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.11.

Agnico Eagle Mines Trading Up 2.8 %

Shares of Agnico Eagle Mines stock traded up $2.25 during midday trading on Tuesday, reaching $81.91. The company had a trading volume of 754,965 shares, compared to its average volume of 1,201,734. The firm has a market cap of $41.11 billion, a PE ratio of 40.96, a P/E/G ratio of 0.68 and a beta of 1.08. The stock has a fifty day moving average price of $82.13 and a 200 day moving average price of $79.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $89.00.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its holdings in shares of Agnico Eagle Mines by 6.1% in the fourth quarter. CWA Asset Management Group LLC now owns 60,143 shares of the mining company’s stock valued at $4,704,000 after acquiring an additional 3,475 shares in the last quarter. Versant Capital Management Inc bought a new position in Agnico Eagle Mines in the 4th quarter valued at $26,000. Confluence Investment Management LLC increased its position in shares of Agnico Eagle Mines by 1.8% during the 4th quarter. Confluence Investment Management LLC now owns 20,408 shares of the mining company’s stock valued at $1,596,000 after purchasing an additional 351 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Agnico Eagle Mines by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 21,822 shares of the mining company’s stock worth $1,760,000 after purchasing an additional 302 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Agnico Eagle Mines by 22.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 431,200 shares of the mining company’s stock worth $34,736,000 after buying an additional 78,700 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.