1832 Asset Management L.P. Increases Stock Holdings in Agnico Eagle Mines Limited $AEM

1832 Asset Management L.P. increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 38.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,268,575 shares of the mining company’s stock after buying an additional 350,446 shares during the quarter. 1832 Asset Management L.P. owned about 0.25% of Agnico Eagle Mines worth $150,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AEM. Ameritas Advisory Services LLC purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Agnico Eagle Mines in the first quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the second quarter valued at approximately $29,000. City State Bank increased its position in Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares during the last quarter. Finally, Dagco Inc. purchased a new position in Agnico Eagle Mines during the first quarter worth approximately $39,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AEM shares. UBS Group upped their price objective on Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings restated a “buy (a-)” rating on shares of Agnico Eagle Mines in a research note on Wednesday, November 26th. 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. Bank of America lifted 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. Finally, CIBC boosted their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Five investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Buy” and an average target price of $185.50.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $169.70 on Wednesday. The firm has a fifty day moving average of $166.42 and a two-hundred day moving average of $142.71. The firm has a market cap of $85.13 billion, a P/E ratio of 24.77, a P/E/G ratio of 0.63 and a beta of 0.64. Agnico Eagle Mines Limited has a 1-year low of $76.91 and a 1-year high of $187.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.76 by $0.40. The business 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 15.64%. During the same quarter last year, the company posted $1.14 earnings per share. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share 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.