NewEdge Advisors LLC Acquires 5,025 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• NewEdge Advisors LLC has increased its stake in Agnico Eagle Mines Limited by 35.2%, now holding shares valued at approximately $2.09 million.
• Agnico Eagle Mines reported $1.94 earnings per share, surpassing estimates by $0.11, and experienced a 35.6% year-over-year revenue growth to $2.86 billion.
• The stock has an average rating of "Buy" from analysts, with a consensus target price of $136.90.

NewEdge Advisors LLC raised its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 35.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,304 shares of the mining company's stock after acquiring an additional 5,025 shares during the period. NewEdge Advisors LLC's holdings in Agnico Eagle Mines were worth $2,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. TD Asset Management Inc raised its stake in shares of 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 valued at $978,553,000 after purchasing an additional 2,709,005 shares in the last quarter. Canada Pension Plan Investment Board increased 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 valued at $254,029,000 after buying an additional 854,924 shares during the period. Nuveen LLC bought a new stake in shares of Agnico Eagle Mines during the 1st quarter worth about $85,926,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $46,799,000. Institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AEM shares. CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Royal Bank Of Canada lifted their price target on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Bank of America raised their target price 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. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Stock Down 0.8%

AEM traded down $1.26 during trading on Tuesday, reaching $152.50. 1,942,060 shares of the stock traded hands, compared to its average volume of 2,929,414. The stock's 50-day simple moving average is $133.94 and its two-hundred day simple moving average is $120.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $156.18. The stock has a market cap of $76.68 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.05 and a beta of 0.44.

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