Benjamin Edwards Inc. Boosts Stake in Agnico Eagle Mines Limited $AEM

Benjamin Edwards Inc. grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 65.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,782 shares of the mining company’s stock after acquiring an additional 6,241 shares during the quarter. Benjamin Edwards Inc.’s holdings in Agnico Eagle Mines were worth $2,660,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 worth $2,432,603,000 after acquiring an additional 614,437 shares during the last quarter. TD Asset Management Inc increased its position in Agnico Eagle Mines by 3.6% in the second quarter. TD Asset Management Inc now owns 9,356,548 shares of the mining company’s stock worth $1,112,500,000 after buying an additional 323,252 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Agnico Eagle Mines by 1.9% in the second quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after purchasing an additional 160,650 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted 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 worth $987,398,000 after purchasing an additional 2,319,131 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Agnico Eagle Mines during the second quarter valued at about $938,644,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $190.90 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. The stock has a 50-day simple moving average of $170.41 and a 200-day simple moving average of $153.17. The stock has a market capitalization of $95.78 billion, a PE ratio of 27.87, a PEG ratio of 0.59 and a beta of 0.63. Agnico Eagle Mines Limited has a 1 year low of $81.45 and a 1 year high of $191.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $1.14 EPS. On average, analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AEM shares. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reiterated a “buy (a-)” rating on shares of Agnico Eagle Mines in a research note on Monday, December 29th. Citigroup upped their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. Six research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.