Flputnam Investment Management Co. Takes $257,000 Position in Agnico Eagle Mines Limited $AEM

Key Points

• Flputnam Investment Management Co. has acquired a new stake in Agnico Eagle Mines Limited, purchasing 2,374 shares valued at approximately $257,000 in the first quarter.
• Several hedge funds have increased their positions in Agnico Eagle, with Northern Trust Corp notably growing its stake by 66.4% in the fourth quarter.
• Agnico Eagle Mines reported an earnings per share of $1.94 for the last quarter, surpassing estimates, with year-over-year revenue growth of 35.6%.

Flputnam Investment Management Co. acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,374 shares of the mining company's stock, valued at approximately $257,000.

Other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc grew its holdings in Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock worth $978,553,000 after acquiring an additional 2,709,005 shares during the period. Canada Pension Plan Investment Board raised its stake in Agnico Eagle Mines by 57.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock worth $254,029,000 after acquiring an additional 854,924 shares during the period. Nuveen LLC bought a new position in Agnico Eagle Mines during the first quarter valued at $85,926,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after buying an additional 673,400 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $46,799,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock traded up $2.53 on Monday, reaching $154.38. 2,695,120 shares of the company were exchanged, compared to its average volume of 2,937,532. 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 firm has a market cap of $77.63 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.04 and a beta of 0.44. The company's 50-day moving average is $129.88 and its two-hundred day moving average is $118.01. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $155.05.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the company posted $1.07 EPS. The company's revenue was up 35.6% compared to the same quarter last year. As a group, research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AEM has been the topic of a number of recent analyst reports. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Zacks Research downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Finally, Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Company 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.