City State Bank Raises Stake in Agnico Eagle Mines Limited $AEM

City State Bank grew its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 69.2% in the second quarter, HoldingsChannel.com reports. The firm owned 269 shares of the mining company’s stock after buying an additional 110 shares during the quarter. City State Bank’s holdings in Agnico Eagle Mines were worth $32,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC purchased a new stake in shares of Agnico Eagle Mines during the first quarter valued at approximately $226,000. Bank of New York Mellon Corp boosted its stake in shares of Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company’s stock valued at $52,613,000 after purchasing an additional 5,717 shares during the period. Private Trust Co. NA boosted its stake in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock valued at $31,000 after purchasing an additional 232 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the first quarter valued at approximately $34,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the first quarter valued at approximately $234,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM opened at $163.43 on Friday. The stock has a fifty day simple moving average of $157.00 and a two-hundred day simple moving average of $133.01. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The company has a market cap of $82.18 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.46. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data 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 business had revenue of $2.86 billion during 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 firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AEM. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. CIBC upped their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial upped their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Citigroup upped their target price on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Bank of America upped their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Five analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $184.50.

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.