National Bank Financial Forecasts Strong Price Appreciation for Agnico Eagle Mines (TSE:AEM) Stock
by Jessica Moore · The Cerbat GemAgnico Eagle Mines (TSE:AEM – Get Free Report) (NYSE:AEM) had its price target raised by investment analysts at National Bank Financial from C$330.00 to C$345.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 13.79% from the stock’s current price.
Several other research analysts have also issued reports on AEM. JPMorgan Chase & Co. set a C$337.00 target price on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Erste Group Bank lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. TD Securities boosted their price target on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus boosted their price target on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of C$320.75.
Read Our Latest Stock Analysis on Agnico Eagle Mines
Agnico Eagle Mines Price Performance
TSE:AEM traded up C$8.63 during midday trading on Friday, hitting C$303.19. The company had a trading volume of 448,609 shares, compared to its average volume of 1,034,407. Agnico Eagle Mines has a 52-week low of C$144.21 and a 52-week high of C$348.94. The stock’s fifty day moving average price is C$294.25 and its 200-day moving average price is C$261.90. The company has a market capitalization of C$151.89 billion, a PE ratio of 34.22, a P/E/G ratio of 22.97 and a beta of 1.87. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 1.68.
Agnico Eagle Mines (TSE:AEM – Get Free Report) (NYSE:AEM) last announced its earnings results on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. The company had revenue of C$4.89 billion during the quarter. As a group, research analysts expect that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.
Insider Activity at Agnico Eagle Mines
In other news, insider Guy Gosselin sold 4,947 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the completion of the transaction, the insider directly owned 31,381 shares of the company’s stock, valued at approximately C$9,728,110. This represents a 13.62% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.