Agnico Eagle Mines (NYSE:AEM) Price Target Cut to $106.00 by Analysts at TD Securities

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price cut by TD Securities from $108.00 to $106.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. They currently have a buy rating on the mining company’s stock.

Several other equities analysts have also commented on AEM. StockNews.com upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research report on Monday. Scotiabank lifted their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and an average price target of $94.63.

Agnico Eagle Mines Stock Up 0.8 %

Shares of AEM stock opened at $98.08 on Wednesday. The company’s fifty day simple moving average is $87.21 and its two-hundred day simple moving average is $83.66. Agnico Eagle Mines has a 52 week low of $47.73 and a 52 week high of $101.45. The stock has a market cap of $49.33 billion, a P/E ratio of 25.95, a PEG ratio of 0.64 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly 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%. Analysts predict that Agnico Eagle Mines will post 4.71 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its holdings in shares of Agnico Eagle Mines by 3.6% in the fourth 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 during the period. Vanguard Group Inc. lifted its holdings in shares of Agnico Eagle Mines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock worth $1,554,180,000 after buying an additional 331,087 shares during the period. FMR LLC grew its position in shares of Agnico Eagle Mines by 43.5% during the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after buying an additional 4,562,005 shares in the last quarter. Capital World Investors increased its stake in shares of Agnico Eagle Mines by 41.9% during 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 buying an additional 4,121,164 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Agnico Eagle Mines by 0.7% in the fourth quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company’s stock valued at $932,008,000 after acquiring an additional 87,410 shares in the last quarter. 68.34% of the stock is currently owned by 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.