Agnico Eagle Mines Limited $AEM is Oxbow Advisors LLC’s 7th Largest Position

Oxbow Advisors LLC decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,043 shares of the mining company’s stock after selling 8,747 shares during the period. Agnico Eagle Mines comprises approximately 2.6% of Oxbow Advisors LLC’s holdings, making the stock its 7th biggest holding. Oxbow Advisors LLC’s holdings in Agnico Eagle Mines were worth $27,483,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AEM. Ninety One UK Ltd grew its position in Agnico Eagle Mines by 386.5% in the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after purchasing an additional 149,506 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in Agnico Eagle Mines by 1,560.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after buying an additional 45,746 shares in the last quarter. Addenda Capital Inc. increased its position in Agnico Eagle Mines by 2.3% in the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after acquiring an additional 15,965 shares during the period. Massachusetts Financial Services Co. MA increased its position in Agnico Eagle Mines by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after acquiring an additional 602,489 shares during the period. Finally, Schroder Investment Management Group raised its stake in Agnico Eagle Mines by 12.7% during the 2nd quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock valued at $52,101,000 after acquiring an additional 49,480 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AEM. Citigroup increased their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. CIBC raised their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Raymond James Financial restated an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $211.70.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM traded up $0.83 during midday trading on Friday, reaching $214.52. The company’s stock had a trading volume of 2,594,001 shares, compared to its average volume of 2,229,503. Agnico Eagle Mines Limited has a one year low of $87.45 and a one year high of $215.95. The company has a market cap of $107.40 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. The company has a 50 day moving average price of $178.06 and a 200 day moving average price of $158.71. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.