Agnico Eagle Mines Limited $AEM Stock Acquired by Annex Advisory Services LLC

Annex Advisory Services LLC grew its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 19.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,534 shares of the mining company's stock after acquiring an additional 5,527 shares during the quarter. Annex Advisory Services LLC's holdings in Agnico Eagle Mines were worth $6,329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEM. BIP Wealth LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at $1,167,000. Engineers Gate Manager LP lifted its stake in shares of Agnico Eagle Mines by 914.3% during the second quarter. Engineers Gate Manager LP now owns 30,246 shares of the mining company's stock worth $4,692,000 after purchasing an additional 27,264 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Agnico Eagle Mines during the second quarter worth about $6,923,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its position in shares of Agnico Eagle Mines by 12.0% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company's stock worth $16,046,000 after buying an additional 11,100 shares during the period. Finally, Allworth Financial LP purchased a new stake in shares of Agnico Eagle Mines in the second quarter worth about $740,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AEM shares. JPMorgan Chase & Co. raised their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Scotiabank cut their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of Agnico Eagle Mines from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday. Royal Bank Of Canada increased their price target on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the stock a "sector perform" rating in a research report on Wednesday, September 16th. Finally, Wall Street Zen downgraded Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $222.08.

Agnico Eagle Mines Stock Performance

AEM opened at $189.34 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The firm has a market cap of $95.98 billion, a PE ratio of 16.20, a P/E/G ratio of 2.75 and a beta of 0.64. The business has a fifty day simple moving average of $195.20 and a 200-day simple moving average of $181.77. Agnico Eagle Mines Limited has a fifty-two week low of $134.38 and a fifty-two week high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $1.94 EPS. The company's revenue was up 35.0% on a year-over-year basis. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 11.56 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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