Agnico Eagle Mines Limited $AEM Shares Purchased by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC significantly increased its stake in Agnico Eagle Mines Limited by 90.2% during the 2nd quarter, bringing its total holdings to 7,242 shares valued at approximately $861,000.
• Agnico Eagle Mines exceeded analysts' expectations with $1.94 earnings per share and $2.86 billion in revenue for the latest quarter, reflecting a 35.6% year-over-year increase.
• Research firms have raised price targets for Agnico Eagle Mines, with CIBC setting a new target of $231.00 and multiple analysts rating the stock as "outperform" or "buy".

Sequoia Financial Advisors LLC increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 90.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,242 shares of the mining company's stock after purchasing an additional 3,435 shares during the period. Sequoia Financial Advisors LLC's holdings in Agnico Eagle Mines were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Agnico Eagle Mines during the 1st quarter worth about $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Agnico Eagle Mines during the 1st quarter worth about $26,000. Private Trust Co. NA raised its holdings in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after acquiring an additional 232 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $174.68 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The stock has a market capitalization of $87.83 billion, a P/E ratio of 29.71, a PEG ratio of 1.16 and a beta of 0.46. The company has a 50 day moving average price of $153.76 and a 200 day moving average price of $130.75. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $187.50.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The firm had revenue of $2.86 billion during 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 quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analyst Weigh In

AEM has been the subject of a number of recent research reports. Raymond James Financial increased their price objective on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an "outperform" rating in a report on Friday, October 10th. TD Securities increased their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. CIBC raised their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an "outperformer" rating in a report on Friday, October 10th. Finally, Zacks Research upgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Six equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $175.20.

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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