1,717 Shares in Agnico Eagle Mines Limited $AEM Bought by Beaumont Financial Advisors LLC

Key Points

• Beaumont Financial Advisors LLC has acquired 1,717 shares of Agnico Eagle Mines Limited, valued at approximately $204,000, as part of its new investment strategy in the 2nd quarter.
• Multiple hedge funds have increased their positions in Agnico Eagle Mines, with 68.34% of the stock now owned by institutional investors.
• Agnico Eagle Mines reported a 35.6% year-over-year increase in quarterly revenue, with earnings per share of $1.94, surpassing analysts' expectations.

Beaumont Financial Advisors LLC acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,717 shares of the mining company's stock, valued at approximately $204,000.

Several other hedge funds have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its position in shares of Agnico Eagle Mines by 3.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after acquiring an additional 499,362 shares in the last quarter. TD Asset Management Inc raised its position in shares of Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock worth $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after acquiring an additional 673,400 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Agnico Eagle Mines by 57.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock worth $254,029,000 after acquiring an additional 854,924 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Agnico Eagle Mines by 10.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company's stock worth $214,361,000 after acquiring an additional 189,935 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AEM shares. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Bank of America raised their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. UBS Group raised their target price on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Finally, Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $141.40.

Agnico Eagle Mines Price Performance

AEM stock opened at $163.47 on Friday. The company has a market capitalization of $82.19 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.10 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 Limited has a 52-week low of $75.17 and a 52-week high of $164.64. The business has a 50-day simple moving average of $141.14 and a two-hundred day simple moving average of $124.00.

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 business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company's quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Profile

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.

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