Agnico Eagle Mines Limited $AEM Shares Acquired by Canoe Financial LP

Canoe Financial LP boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 130.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 986,414 shares of the mining company's stock after acquiring an additional 558,492 shares during the quarter. Agnico Eagle Mines accounts for 2.2% of Canoe Financial LP's portfolio, making the stock its 15th largest position. Canoe Financial LP owned about 0.19% of Agnico Eagle Mines worth $178,066,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its position in Agnico Eagle Mines by 600.0% during the 3rd quarter. Fortitude Family Office LLC now owns 140 shares of the mining company's stock worth $26,000 after acquiring an additional 120 shares during the period. Markowski Investments bought a new position in shares of Agnico Eagle Mines in the second quarter worth $29,000. Sawyer & Company Inc bought a new position in shares of Agnico Eagle Mines in the third quarter worth $35,000. Dunhill Financial LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at $31,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at $32,000. Institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 16th. Scotia decreased their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a research report on Friday, July 3rd. Scotiabank decreased their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Raymond James Financial lowered their target price on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an "outperform" rating on the stock in a research note on Friday, September 4th. Finally, Barclays boosted their price target on shares of Agnico Eagle Mines from $188.00 to $218.00 and gave the stock an "overweight" rating in a research report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.23.

Agnico Eagle Mines Trading Up 0.6%

Shares of Agnico Eagle Mines stock opened at $187.29 on Thursday. The business has a fifty day simple moving average of $195.46 and a 200-day simple moving average of $181.27. Agnico Eagle Mines Limited has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The firm has a market cap of $94.95 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.89 by $0.16. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. Agnico Eagle Mines's revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 11.47 EPS for the current fiscal year.

About Agnico Eagle Mines

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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