Fairvoy Private Wealth LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Fairvoy Private Wealth LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 8,393 shares of the mining company’s stock, valued at approximately $998,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEM. TD Asset Management Inc raised its position in Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock worth $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Agnico Eagle Mines by 57.4% during the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock worth $254,029,000 after acquiring an additional 854,924 shares in the last quarter. Nuveen LLC bought a new stake in Agnico Eagle Mines during the first quarter worth $85,926,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Agnico Eagle Mines by 11.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock worth $728,214,000 after acquiring an additional 673,400 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Agnico Eagle Mines by 3.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock worth $1,457,160,000 after acquiring an additional 499,362 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AEM has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (a)” rating on shares of Agnico Eagle Mines in a research report on Saturday, September 27th. TD Securities raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Thursday, July 17th. Bank of America increased their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Lake Street Capital reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Finally, UBS Group increased their price objective on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. Seven research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $141.40.

Agnico Eagle Mines Trading Up 0.7%

AEM stock opened at $169.40 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The company’s 50-day simple moving average is $145.38 and its 200 day simple moving average is $126.08. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $171.45. The company has a market capitalization of $85.18 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.13 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company posted $1.07 earnings per share. Agnico Eagle Mines’s revenue was up 35.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

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.