Baron Wealth Management LLC Buys Shares of 1,715 Agnico Eagle Mines Limited $AEM

Key Points

• Baron Wealth Management LLC acquired 1,715 shares of Agnico Eagle Mines valued at approximately $204,000 during the 2nd quarter, joining other institutional investors who have recently changed their stakes in the company.
• Several analysts have upgraded Agnico Eagle Mines’ stock ratings, with five giving it a Strong Buy rating and a consensus price target of $136.90.
• Agnico Eagle Mines reported quarterly earnings of $1.94 per share, exceeding analyst expectations of $1.83, and its revenue rose 35.6% year-over-year to $2.86 billion.

Baron Wealth Management LLC bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,715 shares of the mining company's stock, valued at approximately $204,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its stake in Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Agnico Eagle Mines by 57.4% during the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock valued at $254,029,000 after purchasing an additional 854,924 shares during the last quarter. Nuveen LLC acquired a new stake in Agnico Eagle Mines during the first quarter valued at $85,926,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Agnico Eagle Mines by 11.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after buying an additional 673,400 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $46,799,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded up $6.91 during trading on Friday, reaching $161.29. The company had a trading volume of 9,137,369 shares, compared to its average volume of 2,721,813. The firm's 50-day simple moving average is $136.93 and its 200 day simple moving average is $121.85. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $162.53. The firm has a market capitalization of $81.10 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.08 and a beta of 0.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm's revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on AEM shares. Zacks Research lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. Royal Bank Of Canada boosted their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Finally, CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Five investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $141.40.

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.