JCIC Asset Management Inc. Invests $16.69 Million in Agnico Eagle Mines Limited $AEM

JCIC Asset Management Inc. acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 99,093 shares of the mining company’s stock, valued at approximately $16,686,000. Agnico Eagle Mines accounts for approximately 5.2% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 5th biggest holding.

Other large investors have also modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in Agnico Eagle Mines during the 2nd quarter worth approximately $25,000. True Wealth Design LLC lifted its position in shares of Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at $29,000. City State Bank grew its holdings in Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after purchasing an additional 110 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its holdings in Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $197.61 on Monday. The company has a market cap of $98.94 billion, a PE ratio of 28.85, a P/E/G ratio of 0.61 and a beta of 0.63. Agnico Eagle Mines Limited has a fifty-two week low of $82.86 and a fifty-two week high of $201.95. The firm has a 50-day simple moving average of $174.19 and a 200 day simple moving average of $156.18. 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 issued its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The firm 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. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AEM shares. Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Raymond James Financial reissued an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Bank of America raised their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Five investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $211.70.

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.