Credit Suisse Group Analysts Give Agnico Eagle Mines (AEM) a $62.00 Price Target

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) has been given a $62.00 target price by Credit Suisse Group in a research report issued to clients and investors on Thursday, December 28th. The firm presently has a “buy” rating on the mining company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 31.27% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. ValuEngine raised shares of Agnico Eagle Mines from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Desjardins reissued a “buy” rating on shares of Agnico Eagle Mines in a report on Monday, December 11th. Zacks Investment Research lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Friday, October 6th. CSFB boosted their price objective on shares of Agnico Eagle Mines from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, December 28th. Finally, National Bank Financial reaffirmed an “outperform market weight” rating on shares of Agnico Eagle Mines in a report on Friday, September 8th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $58.05.

Agnico Eagle Mines (AEM) opened at $47.23 on Thursday. The company has a quick ratio of 2.70, a current ratio of 3.85 and a debt-to-equity ratio of 0.28. Agnico Eagle Mines has a 1-year low of $39.30 and a 1-year high of $51.86. The stock has a market cap of $11,000.00, a price-to-earnings ratio of 40.37, a price-to-earnings-growth ratio of 48.99 and a beta of -0.74.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Agnico Eagle Mines by 10.9% during the 2nd quarter. FMR LLC now owns 11,617,737 shares of the mining company’s stock valued at $523,909,000 after acquiring an additional 1,141,509 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in Agnico Eagle Mines by 394.4% during the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 505,558 shares of the mining company’s stock valued at $22,856,000 after acquiring an additional 403,295 shares in the last quarter. TD Asset Management Inc. grew its stake in Agnico Eagle Mines by 13.7% during the 3rd quarter. TD Asset Management Inc. now owns 3,254,897 shares of the mining company’s stock valued at $146,759,000 after acquiring an additional 393,212 shares in the last quarter. Vanguard Group Inc. grew its stake in Agnico Eagle Mines by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,444,848 shares of the mining company’s stock valued at $245,672,000 after acquiring an additional 352,417 shares in the last quarter. Finally, Stack Financial Management Inc purchased a new stake in Agnico Eagle Mines during the 3rd quarter valued at about $14,736,000. Hedge funds and other institutional investors own 58.31% of the company’s stock.

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About Agnico Eagle Mines

Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.

Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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