Agnico Eagle Mines Limited $AEM Position Boosted by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group increased its Agnico Eagle Mines position by 11.2% in the third quarter, bringing its holdings to 69,753 shares valued at approximately $12.8 million. Institutional investors collectively own 68.34% of the company.
• Agnico Eagle shares opened at $187.44, down 1.1%, with a 52-week range of $134.38 to $255.24. The company recently beat quarterly earnings expectations, reporting $3.05 in EPS and $3.80 billion in revenue, up 35% year over year.
• Analysts maintain a “Moderate Buy” consensus, with 13 Buy ratings and four Holds and an average price target of $224.38, implying potential upside from current levels.

CWA Asset Management Group LLC lifted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,753 shares of the mining company's stock after acquiring an additional 7,045 shares during the period. CWA Asset Management Group LLC's holdings in Agnico Eagle Mines were worth $12,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Prairie Advisory LLC boosted its holdings in shares of Agnico Eagle Mines by 78.2% in the 3rd quarter. Prairie Advisory LLC now owns 4,102 shares of the mining company's stock valued at $752,000 after purchasing an additional 1,800 shares in the last quarter. Optivise Advisory Services LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth $259,000. IFP Advisors Inc lifted its position in shares of Agnico Eagle Mines by 2.9% during the 3rd quarter. IFP Advisors Inc now owns 10,254 shares of the mining company's stock worth $1,879,000 after buying an additional 288 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Agnico Eagle Mines by 3.7% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 3,655,707 shares of the mining company's stock worth $659,679,000 after buying an additional 131,514 shares during the last quarter. Finally, Banque Pictet & Cie SA lifted its position in shares of Agnico Eagle Mines by 1,073.6% during the 3rd quarter. Banque Pictet & Cie SA now owns 21,124 shares of the mining company's stock worth $3,877,000 after buying an additional 19,324 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Down 1.1%

Shares of NYSE:AEM opened at $187.44 on Tuesday. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24. The company has a market capitalization of $95.02 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company has a fifty day moving average of $195.34 and a 200-day moving average of $181.59.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data 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. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%. Agnico Eagle Mines's revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. On average, equities analysts predict that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Zacks Research raised Agnico Eagle Mines from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Scotia lowered their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a research note on Friday, July 3rd. UBS Group boosted their target price on Agnico Eagle Mines from $170.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, October 8th. Jefferies Financial Group raised shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating and increased their target price for the stock from $187.00 to $200.00 in a report on Monday, July 6th. Finally, Scotiabank reduced their price target on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $224.38.

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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