Agnico Eagle Mines (NYSE:AEM) Given New $88.00 Price Target at Jefferies Financial Group

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price raised by analysts at Jefferies Financial Group from $85.00 to $88.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 7.43% from the company’s current price.

Other analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. UBS Group assumed coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.11.

Agnico Eagle Mines Stock Performance

Shares of AEM stock traded up $2.25 on Tuesday, hitting $81.91. 754,965 shares of the stock were exchanged, compared to its average volume of 1,201,734. Agnico Eagle Mines has a one year low of $44.37 and a one year high of $89.00. The firm’s 50 day moving average is $82.13 and its two-hundred day moving average is $79.28. The firm has a market capitalization of $41.11 billion, a PE ratio of 40.96, a P/E/G ratio of 0.68 and a beta of 1.08. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors have recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new position in shares of Agnico Eagle Mines during the second quarter worth about $205,000. Acadian Asset Management LLC grew its position in Agnico Eagle Mines by 448.6% in the second quarter. Acadian Asset Management LLC now owns 39,500 shares of the mining company’s stock worth $2,580,000 after acquiring an additional 32,300 shares in the last quarter. Wedbush Securities Inc. bought a new position in Agnico Eagle Mines in the second quarter valued at $665,000. Choreo LLC raised its position in Agnico Eagle Mines by 255.0% during the second quarter. Choreo LLC now owns 16,002 shares of the mining company’s stock valued at $1,042,000 after purchasing an additional 11,494 shares in the last quarter. Finally, United Services Automobile Association lifted its stake in Agnico Eagle Mines by 5.0% during the second quarter. United Services Automobile Association now owns 18,884 shares of the mining company’s stock worth $1,235,000 after purchasing an additional 907 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

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.