Advisors Capital Management LLC Buys 5,915 Shares of Agnico Eagle Mines Limited $AEM

Advisors Capital Management LLC grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,553 shares of the mining company’s stock after purchasing an additional 5,915 shares during the period. Advisors Capital Management LLC’s holdings in Agnico Eagle Mines were worth $14,219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. boosted its holdings in Agnico Eagle Mines by 87.5% in the second quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock worth $18,196,000 after acquiring an additional 71,400 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the second quarter worth about $232,000. Zurich Insurance Group Ltd FI lifted its position in Agnico Eagle Mines by 32.6% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock valued at $55,214,000 after acquiring an additional 125,223 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 2nd quarter worth approximately $222,000. Finally, Sienna Gestion lifted its holdings in shares of Agnico Eagle Mines by 10.3% in the second quarter. Sienna Gestion now owns 95,400 shares of the mining company’s stock valued at $10,357,000 after purchasing an additional 8,900 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AEM shares. UBS Group raised their price objective on Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Bank of America increased their price target on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, TD Securities increased their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $184.50.

Agnico Eagle Mines Trading Down 0.3%

Shares of AEM stock opened at $168.40 on Friday. The company has a market capitalization of $84.61 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. 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 fifty day moving average is $163.52 and its 200 day moving average is $137.67. Agnico Eagle Mines Limited has a 52-week low of $76.38 and a 52-week high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.40. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same period in the prior year, the business earned $1.14 earnings per share. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

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.