Kingswood Wealth Advisors LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Key Points

• Kingswood Wealth Advisors LLC purchased 1,952 shares of Agnico Eagle Mines Limited, valued at approximately $232,000, during the second quarter.
• Significant increases in holdings were noted among institutional investors, with the Canada Pension Plan Investment Board raising its stake by 57.4%.
• Agnico Eagle Mines has received positive ratings from analysts, including a recent upgrade to strong-buy from Zacks Research and a price target increase from Bank of America.

Kingswood Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,952 shares of the mining company's stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its stake in Agnico Eagle Mines by 3.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after acquiring an additional 499,362 shares during the last quarter. TD Asset Management Inc increased its stake in Agnico Eagle Mines by 42.8% during the first 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 last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Agnico Eagle Mines by 11.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after acquiring an additional 673,400 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Agnico Eagle Mines by 57.4% during the first 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 last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Agnico Eagle Mines by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company's stock worth $214,361,000 after acquiring an additional 189,935 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Bank of America lifted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. CIBC lifted their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an "outperformer" rating in a research note on Friday. Finally, Weiss Ratings reaffirmed a "buy (a)" rating on shares of Agnico Eagle Mines in a research note on Wednesday. Six analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $162.10.

Agnico Eagle Mines Trading Up 1.6%

NYSE:AEM opened at $164.28 on Friday. The firm has a market cap of $82.60 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.10 and a beta of 0.46. The stock has a fifty day moving average price of $149.57 and a 200 day moving average price of $128.37. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $172.21. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.Agnico Eagle Mines's revenue was up 35.6% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

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.

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