Raymond James Boosts Agnico Eagle Mines (NYSE:AEM) Price Target to C$76.00

Agnico Eagle Mines (NYSE:AEMGet Rating) (TSE:AEM) had its price target boosted by Raymond James from C$65.00 to C$76.00 in a research report sent to investors on Wednesday morning, The Fly reports. Raymond James also issued estimates for Agnico Eagle Mines’ Q1 2022 earnings at $0.43 EPS, Q2 2022 earnings at $0.60 EPS, Q3 2022 earnings at $0.55 EPS, Q4 2022 earnings at $0.51 EPS, FY2022 earnings at $2.09 EPS, Q1 2023 earnings at $0.47 EPS, Q2 2023 earnings at $0.48 EPS, Q3 2023 earnings at $0.48 EPS, Q4 2023 earnings at $0.48 EPS and FY2023 earnings at $1.90 EPS.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group decreased their price objective on shares of Agnico Eagle Mines from C$90.00 to C$84.00 and set a buy rating for the company in a report on Tuesday, March 1st. BMO Capital Markets decreased their price objective on shares of Agnico Eagle Mines from $93.00 to $88.00 in a report on Friday, February 25th. TD Securities reduced their price target on shares of Agnico Eagle Mines from $65.00 to $62.00 and set a buy rating for the company in a report on Tuesday, March 1st. Stifel Nicolaus reduced their price target on shares of Agnico Eagle Mines from C$115.75 to C$100.00 in a report on Monday, February 28th. Finally, Barclays raised shares of Agnico Eagle Mines from an equal weight rating to an overweight rating and increased their price target for the company from $67.00 to $69.00 in a report on Thursday, February 3rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of Buy and an average target price of $84.77.

AEM stock opened at $59.60 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 31.23 and a beta of 0.86. Agnico Eagle Mines has a 12 month low of $45.42 and a 12 month high of $74.50. The firm has a 50 day moving average of $59.65 and a two-hundred day moving average of $54.77.

Agnico Eagle Mines (NYSE:AEMGet Rating) (TSE:AEM) last posted its quarterly earnings data on Wednesday, February 23rd. The mining company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.09). The firm had revenue of $949.10 million for the quarter, compared to the consensus estimate of $932.93 million. Agnico Eagle Mines had a return on equity of 10.03% and a net margin of 14.16%. During the same period in the prior year, the company posted $0.67 earnings per share. On average, research analysts expect that Agnico Eagle Mines will post 2.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Monday, March 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.35. Agnico Eagle Mines’s dividend payout ratio (DPR) is 72.40%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Truist Financial Corp acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at about $2,802,000. UMB Bank N A MO boosted its stake in shares of Agnico Eagle Mines by 764.4% in the 1st quarter. UMB Bank N A MO now owns 510 shares of the mining company’s stock valued at $31,000 after purchasing an additional 451 shares during the last quarter. NewGen Asset Management Ltd bought a new position in shares of Agnico Eagle Mines in the 1st quarter valued at about $5,512,000. Quattro Financial Advisors LLC bought a new position in shares of Agnico Eagle Mines in the 1st quarter valued at about $226,000. Finally, Exane Derivatives boosted its stake in shares of Agnico Eagle Mines by 34.7% in the 1st quarter. Exane Derivatives now owns 1,324 shares of the mining company’s stock valued at $81,000 after purchasing an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 64.62% of the company’s stock.

Agnico Eagle Mines Company Profile (Get Rating)

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Sweden, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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