Moran Wealth Management LLC Boosts Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Moran Wealth Management LLC increased its holdings in Agnico Eagle Mines Limited by 13.1% during the second quarter, now owning 18,404 shares valued at $2,189,000.
• Multiple hedge funds, including TD Asset Management Inc and Canada Pension Plan Investment Board, have raised their stakes, with institutional investors owning 68.34% of the stock.
• Agnico Eagle Mines' stock recently received several analyst upgrades, with Citigroup raising its target price from $140.00 to $198.00 and a consensus rating of "Buy".

Moran Wealth Management LLC lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 13.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,404 shares of the mining company's stock after purchasing an additional 2,135 shares during the period. Moran Wealth Management LLC's holdings in Agnico Eagle Mines were worth $2,189,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AEM. Massachusetts Financial Services Co. MA boosted its position in Agnico Eagle Mines by 3.9% in the 1st 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 buying an additional 499,362 shares during the period. TD Asset Management Inc raised its stake in shares of 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 acquiring an additional 2,709,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 period. Canada Pension Plan Investment Board grew 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 purchasing an additional 854,924 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Agnico Eagle Mines by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company's stock worth $214,361,000 after purchasing an additional 189,935 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AEM shares. Weiss Ratings reiterated a "buy (a)" rating on shares of Agnico Eagle Mines in a research note on Wednesday, October 8th. Citigroup raised their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a "buy" rating in a report on Wednesday. Raymond James Financial boosted their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Bank of America increased their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, UBS Group lifted their price objective on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Six research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $167.90.

Agnico Eagle Mines Stock Up 4.4%

Agnico Eagle Mines stock opened at $178.81 on Thursday. The company has a market capitalization of $89.91 billion, a P/E ratio of 30.41, a PEG ratio of 1.14 and a beta of 0.46. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $179.20. The stock has a 50-day simple moving average of $151.98 and a 200-day simple moving average of $129.60. 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 announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the previous year, the company posted $1.07 EPS. The company's quarterly revenue was up 35.6% on a year-over-year basis. Equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines 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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