Prospera Financial Services Inc Grows Stock Holdings in Agnico Eagle Mines Limited $AEM

Prospera Financial Services Inc increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 87.7% in the 4th quarter, Holdings Channel reports. The firm owned 6,780 shares of the mining company’s stock after buying an additional 3,167 shares during the period. Prospera Financial Services Inc’s holdings in Agnico Eagle Mines were worth $1,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AEM. Capital World Investors raised its holdings in shares of Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Agnico Eagle Mines by 566.2% during the third quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock valued at $149,593,000 after purchasing an additional 754,919 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Agnico Eagle Mines by 26,635.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,835 shares of the mining company’s stock valued at $124,916,000 after purchasing an additional 734,079 shares during the last quarter. Korea Investment CORP raised its holdings in shares of Agnico Eagle Mines by 138.5% during the third quarter. Korea Investment CORP now owns 972,595 shares of the mining company’s stock valued at $163,847,000 after purchasing an additional 564,723 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Agnico Eagle Mines in the third quarter valued at about $68,467,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on AEM shares. Canadian Imperial Bank of Commerce increased their target price on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a report on Tuesday. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Barclays started coverage on Agnico Eagle Mines in a report on Thursday, May 21st. They issued an “overweight” rating and a $213.00 target price on the stock. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Stock Up 1.9%

AEM opened at $178.22 on Friday. The stock has a market cap of $89.20 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 3.81 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The firm’s fifty day moving average is $195.25 and its 200 day moving average is $194.45. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.21. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.53 EPS. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current fiscal 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.