Agnico Eagle Mines Limited $AEM Shares Acquired by Canoe Financial LP

Canoe Financial LP boosted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,129,144 shares of the mining company’s stock after buying an additional 184,177 shares during the quarter. Agnico Eagle Mines makes up about 2.7% of Canoe Financial LP’s holdings, making the stock its 9th biggest position. Canoe Financial LP owned about 0.22% of Agnico Eagle Mines worth $190,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Agnico Eagle Mines by 3.1% in the second quarter. Vanguard Group Inc. now owns 20,417,906 shares of the mining company’s stock valued at $2,432,603,000 after purchasing an additional 614,437 shares during the last quarter. TD Asset Management Inc boosted its stake in Agnico Eagle Mines by 3.6% during the 2nd quarter. TD Asset Management Inc now owns 9,356,548 shares of the mining company’s stock valued at $1,112,500,000 after purchasing an additional 323,252 shares during the period. Mackenzie Financial Corp grew its holdings in Agnico Eagle Mines by 1.9% in the 2nd quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock valued at $1,046,468,000 after buying an additional 160,650 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after buying an additional 2,319,131 shares during the last quarter. Finally, Norges Bank bought a new position in Agnico Eagle Mines in the 2nd quarter worth approximately $938,644,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $181.58 on Friday. The stock has a market cap of $91.10 billion, a P/E ratio of 26.51, a PEG ratio of 0.66 and a beta of 0.64. The company’s 50-day simple moving average is $167.39 and its 200 day simple moving average is $148.69. Agnico Eagle Mines Limited has a twelve month low of $76.91 and a twelve month high of $187.50. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the company earned $1.14 earnings per share. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Securities raised their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. UBS Group increased their price target on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, December 1st. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. Raymond James Financial upped their price objective on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Citigroup lifted their target price on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Six analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and an average target price of $201.60.

Agnico Eagle Mines Company Profile

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.