Grimes & Company Inc. Purchases New Position in Agnico Eagle Mines Limited $AEM

Grimes & Company Inc. purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,527 shares of the mining company’s stock, valued at approximately $300,000.

Several other institutional investors also recently bought and sold shares of 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 valued at $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Agnico Eagle Mines by 57.4% in the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock valued at $254,029,000 after purchasing an additional 854,924 shares during the period. Nuveen LLC acquired a new stake in Agnico Eagle Mines in the first quarter valued at approximately $85,926,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Agnico Eagle Mines by 11.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock valued at $728,214,000 after purchasing an additional 673,400 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Agnico Eagle Mines by 3.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock valued at $1,457,160,000 after purchasing an additional 499,362 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $166.32 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The business’s 50 day moving average price is $147.11 and its 200-day moving average price is $127.11. The firm has a market capitalization of $83.63 billion, a PE ratio of 28.29, a P/E/G ratio of 1.14 and a beta of 0.46. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $172.21.

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

Wall Street Analyst Weigh In

Several analysts have commented on the company. Bank of America raised their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a report on Monday, June 23rd. National Bankshares reissued an “outperform” rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. UBS Group raised their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Agnico Eagle Mines in a research note on Saturday, September 27th. Seven analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $141.40.

Agnico Eagle Mines Profile

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.