Baird Financial Group Inc. Grows Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Baird Financial Group Inc. raised its position in Agnico Eagle Mines Limited by 157.6% in Q1, owning 175,155 shares valued at approximately $18.99 million.
• Agnico Eagle Mines reported $1.94 EPS for the last quarter, exceeding expectations and marking a 35.6% increase in revenue year-over-year.
• Analysts have a consensus rating of "Buy" for Agnico Eagle Mines, with a target price increase to $173.00 from Bank of America.

Baird Financial Group Inc. lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 157.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,155 shares of the mining company's stock after acquiring an additional 107,149 shares during the quarter. Baird Financial Group Inc.'s holdings in Agnico Eagle Mines were worth $18,989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock valued at $618,000 after acquiring an additional 85 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock valued at $40,000 after acquiring an additional 87 shares during the period. Benjamin Edwards Inc. boosted its stake in Agnico Eagle Mines by 2.0% in the 4th quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company's stock worth $428,000 after purchasing an additional 106 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its stake in Agnico Eagle Mines by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock worth $543,000 after purchasing an additional 120 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Agnico Eagle Mines by 19.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock worth $84,000 after purchasing an additional 125 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target for the company in a research note on Monday, June 30th. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Royal Bank Of Canada upped their price target on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Price Performance

Shares of AEM traded up $3.54 during mid-day trading on Friday, hitting $151.93. 3,101,573 shares of the stock were exchanged, compared to its average volume of 2,331,528. The company has a market cap of $76.39 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.02 and a beta of 0.45. Agnico Eagle Mines Limited has a 52-week low of $75.17 and a 52-week high of $152.75. The firm has a 50-day moving average of $129.88 and a two-hundred day moving average of $117.73. 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 (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. On average, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

About Agnico Eagle Mines

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.