Catalyst Capital Advisors LLC Invests $226,000 in Agnico Eagle Mines Limited $AEM

Key Points

• Catalyst Capital Advisors LLC has invested $226,000 in Agnico Eagle Mines Limited, acquiring a total of 1,900 shares during the second quarter.
• Multiple institutional investors have increased their positions in Agnico Eagle Mines, with TD Asset Management raising its stake by 42.8% and Canada Pension Plan Investment Board by 57.4% in the first quarter.
• Analysts are optimistic about Agnico Eagle Mines, with an average consensus rating of "Buy" and a price target of $184.50, reflecting a series of upgrades from major financial institutions.

Catalyst Capital Advisors LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,900 shares of the mining company's stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. TD Asset Management Inc lifted its position in Agnico Eagle Mines by 42.8% in the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after purchasing an additional 2,709,005 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Agnico Eagle Mines by 57.4% in the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock valued at $254,029,000 after purchasing an additional 854,924 shares during the last quarter. Nuveen LLC bought a new stake in Agnico Eagle Mines in the first quarter valued at approximately $85,926,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Agnico Eagle Mines by 11.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after purchasing an additional 673,400 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Agnico Eagle Mines by 3.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock valued at $1,457,160,000 after purchasing an additional 499,362 shares during the last quarter. Institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of recent analyst reports. Raymond James Financial upped their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an "outperform" rating in a report on Friday, October 10th. Zacks Research upgraded Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. UBS Group upped their target price on Agnico Eagle Mines from $160.00 to $180.00 and gave the company a "buy" rating in a report on Thursday, October 16th. CIBC upped their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an "outperformer" rating in a report on Friday, October 10th. Finally, Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Thursday. Five analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Buy" and a consensus price target of $184.50.

Agnico Eagle Mines Trading Down 0.8%

NYSE AEM opened at $163.43 on Friday. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $187.50. The stock has a market cap of $82.18 billion, a P/E ratio of 27.79, a P/E/G ratio of 0.74 and a beta of 0.46. The stock's fifty day moving average price is $157.00 and its 200-day moving average price is $132.78. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company's quarterly revenue was up 35.6% on a year-over-year basis. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal 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.

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