12,769 Shares in Agnico Eagle Mines Limited $AEM Purchased by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, Holdings Channel reports. The fund purchased 12,769 shares of the mining company’s stock, valued at approximately $2,340,000.

A number of other institutional investors have also added to or reduced their stakes in the company. BIP Wealth LLC bought a new position in Agnico Eagle Mines during the second quarter worth about $1,167,000. Annex Advisory Services LLC boosted its holdings in Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock valued at $4,500,000 after purchasing an additional 11,995 shares during the period. Engineers Gate Manager LP increased its stake in Agnico Eagle Mines by 914.3% during the 2nd quarter. Engineers Gate Manager LP now owns 30,246 shares of the mining company’s stock worth $4,692,000 after acquiring an additional 27,264 shares during the period. K.J. Harrison & Partners Inc bought a new stake in Agnico Eagle Mines during the second quarter worth about $6,923,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in Agnico Eagle Mines by 12.0% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company’s stock valued at $16,046,000 after buying an additional 11,100 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 2.7%

NYSE AEM traded up $4.88 on Friday, reaching $188.75. The company had a trading volume of 875,095 shares, compared to its average volume of 2,669,498. The firm has a market cap of $95.69 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. Agnico Eagle Mines Limited has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The business has a 50 day moving average of $191.99 and a two-hundred day moving average of $181.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The business’s quarterly revenue was up 35.0% on a year-over-year basis. Analysts forecast that Agnico Eagle Mines Limited will post 11.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AEM. JPMorgan Chase & Co. lifted their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their target price for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Royal Bank Of Canada lifted their price target on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Scotiabank cut their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a research note on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.69.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.