25,130 Shares in Agnico Eagle Mines Limited $AEM Bought by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, Holdings Channel.com reports. The fund purchased 25,130 shares of the mining company’s stock, valued at approximately $2,989,000. Agnico Eagle Mines comprises 1.7% of Pinnacle Wealth Management Group Inc.’s portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Agnico Eagle Mines by 1.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company’s stock worth $618,000 after buying an additional 85 shares in the last quarter. Cadinha & Co. LLC increased its holdings in Agnico Eagle Mines by 2.8% in the 2nd quarter. Cadinha & Co. LLC now owns 3,211 shares of the mining company’s stock worth $382,000 after buying an additional 86 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Agnico Eagle Mines by 31.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company’s stock worth $40,000 after buying an additional 87 shares in the last quarter. US Bancorp DE increased its holdings in Agnico Eagle Mines by 2.0% in the 1st quarter. US Bancorp DE now owns 6,908 shares of the mining company’s stock worth $749,000 after buying an additional 138 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Agnico Eagle Mines by 8.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,871 shares of the mining company’s stock worth $223,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Securities boosted their price target on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Citigroup boosted their price target on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Raymond James Financial boosted their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $184.50.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $163.43 on Friday. The company has a market cap of $82.18 billion, a P/E ratio of 27.79, a P/E/G ratio of 0.74 and a beta of 0.46. 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 business’s 50 day moving average price is $157.00 and its 200-day moving average price is $132.78. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $187.50.

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

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.