Agnico Eagle Mines (NYSE:AEM) Sets New 52-Week High – Should You Buy?

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

Wall Street Analysts Forecast Growth

AEM has been the topic of several research analyst reports. 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. UBS Group initiated coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. Royal Bank of Canada raised their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. CIBC upped their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, TD Securities raised their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Trading Up 0.7 %

The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $81.45 and a two-hundred day moving average of $72.96. The firm has a market capitalization of $44.34 billion, a P/E ratio of 93.31, a P/E/G ratio of 0.71 and a beta of 1.10.

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

Institutional Trading of Agnico Eagle Mines

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sapient Capital LLC grew its holdings in Agnico Eagle Mines by 1.3% during the 3rd quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock worth $886,000 after acquiring an additional 145 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Agnico Eagle Mines by 2.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after buying an additional 158 shares during the period. Azzad Asset Management Inc. ADV raised its position in shares of Agnico Eagle Mines by 0.3% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after acquiring an additional 189 shares in the last quarter. Lombard Odier Asset Management Europe Ltd increased its holdings in Agnico Eagle Mines by 0.4% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock worth $3,248,000 after purchasing an additional 190 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its stake in shares of Agnico Eagle Mines by 4.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after acquiring an additional 192 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.