Agnico Eagle Mines (NYSE:AEM) Reaches New 1-Year High – Should You Buy?

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) shares reached a new 52-week high on Wednesday . The company traded as high as $91.30 and last traded at $90.80, with a volume of 211536 shares changing hands. The stock had previously closed at $89.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Scotiabank increased their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.50.

Agnico Eagle Mines Trading Up 4.7 %

The stock has a market capitalization of $47.40 billion, a PE ratio of 47.19, a P/E/G ratio of 0.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The company’s 50 day moving average price is $83.52 and its two-hundred day moving average price is $81.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $26,000. Decker Retirement Planning Inc. purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $29,000. FSC Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $32,000. Fifth Third Bancorp increased its holdings in shares of Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after buying an additional 260 shares during the last quarter. Finally, Montag A & Associates Inc. raised its position in shares of Agnico Eagle Mines by 85.2% during the 4th quarter. Montag A & Associates Inc. now owns 500 shares of the mining company’s stock valued at $39,000 after buying an additional 230 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.