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

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) hit a new 52-week high on Tuesday . The company traded as high as $101.45 and last traded at $100.46, with a volume of 2388226 shares trading hands. The stock had previously closed at $98.35.

Analyst Ratings Changes

Several brokerages recently issued reports on AEM. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Scotiabank increased their price target on shares of 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.50.

Agnico Eagle Mines Trading Up 2.1 %

The firm has a market cap of $50.46 billion, a P/E ratio of 50.23, a PEG ratio of 0.66 and a beta of 1.10. The company has a 50 day moving average of $85.42 and a 200 day moving average of $82.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in 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 worth $1,745,858,000 after purchasing an additional 778,919 shares in the last quarter. FMR LLC increased its holdings 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 valued at $1,213,311,000 after acquiring an additional 4,562,005 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Agnico Eagle Mines by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock valued at $499,956,000 after acquiring an additional 332,576 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Agnico Eagle Mines by 2.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,046,901 shares of the mining company’s stock worth $472,475,000 after purchasing an additional 154,003 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in Agnico Eagle Mines by 7.4% during the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after purchasing an additional 285,565 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.