UBS Group Forecasts Strong Price Appreciation for Agnico Eagle Mines (NYSE:AEM) Stock

UBS Group has raised its price target for Agnico Eagle Mines (NYSE:AEM) from $110.00 to $115.00, maintaining a "neutral" rating. This indicates a potential downside of 0.94% from the previous close. Other analysts have also adjusted their ratings, with Royal Bank of Canada and Citigroup giving higher targets and ratings. Currently, Agnico Eagle Mines has an average rating of "Buy" and a price target of $111.90. The stock traded at $116.09, with a market cap of $58.39 billion and a PE ratio of 30.48.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM had its price target upped by investment analysts at UBS Group from $110.00 to $115.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the mining company's stock. UBS Group's price target indicates a potential downside of 0.94% from the company's previous close.

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AEM has been the subject of several other reports. Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Scotiabank lifted their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 21st. Citigroup upped their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Stifel Canada upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, StockNews.com lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Buy" and an average price target of $111.90.

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Agnico Eagle Mines Price Performance

Gold's Momentum Persists: Leading ETF and 2 Stocks to Watch

Shares of NYSE:AEM traded up $4.54 during midday trading on Friday, reaching $116.09. 2,365,634 shares of the company's stock were exchanged, compared to its average volume of 2,416,542. Agnico Eagle Mines has a 12 month low of $60.15 and a 12 month high of $118.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The firm has a market capitalization of $58.39 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. The company's 50 day simple moving average is $101.19 and its two-hundred day simple moving average is $89.55.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Equities research analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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Several hedge funds and other institutional investors have recently made changes to their positions in AEM. Kapstone Financial Advisors LLC acquired a new position in Agnico Eagle Mines in the first quarter valued at about $1,301,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Agnico Eagle Mines by 11.1% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,179 shares of the mining company's stock valued at $236,000 after acquiring an additional 218 shares during the period. Columbia Asset Management bought a new position in Agnico Eagle Mines during the 1st quarter worth approximately $220,000. Portside Wealth Group LLC grew its holdings in Agnico Eagle Mines by 3.2% during the first quarter. Portside Wealth Group LLC now owns 16,221 shares of the mining company's stock valued at $1,759,000 after purchasing an additional 507 shares during the period. Finally, Wealth Alliance Advisory Group LLC bought a new stake in Agnico Eagle Mines in the first quarter valued at approximately $223,000. 68.34% of the stock is currently owned by institutional investors.

About Agnico Eagle Mines

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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.

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