12,769 Shares in Agnico Eagle Mines Limited $AEM Bought by Cadent Capital Advisors LLC

Key Points

• Cadent Capital Advisors initiated a position in Agnico Eagle Mines during the third quarter, purchasing 12,769 shares valued at approximately $2.34 million. Institutional investors and hedge funds collectively own 68.34% of the company.
• Agnico Eagle Mines shares rose 2.7% to $188.75, while the company reported quarterly earnings of $3.05 per share, exceeding analyst expectations, and revenue growth of 35% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with 12 Buy ratings and five Holds; the average price target is $228.69.

Cadent Capital Advisors LLC acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,769 shares of the mining company's stock, valued at approximately $2,340,000.

Other hedge funds have also modified their holdings of the company. Mn Services Vermogensbeheer B.V. boosted its stake in Agnico Eagle Mines by 4.0% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 82,700 shares of the mining company's stock worth $15,180,000 after buying an additional 3,200 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Agnico Eagle Mines by 21.9% during the third quarter. CoreCap Advisors LLC now owns 702 shares of the mining company's stock worth $129,000 after purchasing an additional 126 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in Agnico Eagle Mines by 1.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 4,362 shares of the mining company's stock valued at $800,000 after purchasing an additional 63 shares in the last quarter. Elevation Wealth Partners LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter worth approximately $42,000. Finally, Moody National Bank Trust Division lifted its position in shares of Agnico Eagle Mines by 12.5% during the 3rd quarter. Moody National Bank Trust Division now owns 3,179 shares of the mining company's stock worth $583,000 after buying an additional 352 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 2.7%

Shares of NYSE:AEM traded up $4.88 during trading on Friday, hitting $188.75. 875,095 shares of the company's stock were exchanged, compared to its average volume of 2,669,498. The firm has a 50-day moving average price of $191.99 and a two-hundred day moving average price of $181.80. The firm has a market cap of $95.69 billion, a P/E ratio of 16.12, a PEG ratio of 2.26 and a beta of 0.64. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The company's quarterly revenue was up 35.0% on a year-over-year basis. Equities analysts predict that Agnico Eagle Mines Limited will post 11.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AEM. UBS Group increased their target price on shares of Agnico Eagle Mines from $170.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday. Royal Bank Of Canada boosted their target price on Agnico Eagle Mines from $210.00 to $225.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. Zacks Research raised Agnico Eagle Mines from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Agnico Eagle Mines in a report on Tuesday, September 29th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of "Moderate Buy" and an average target price of $228.69.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited NYSE: AEM is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company's principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world's largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.

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