Thurston Springer Miller Herd & Titak Inc. Acquires 5,191 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Thurston Springer Miller Herd & Titak Inc. significantly increased its holdings in Agnico Eagle Mines by 238.2%, acquiring an additional 5,191 shares during the second quarter, bringing its total to 7,370 shares valued at approximately $876,000.
• Several institutional investors, including TD Asset Management Inc. and Canada Pension Plan Investment Board, have also increased their stakes in Agnico Eagle Mines, indicating strong institutional interest in the company.
• Agnico Eagle Mines reported $2.86 billion in revenue for the last quarter, surpassing analyst estimates, and achieved earnings per share of $1.94, beating expectations by $0.11.

Thurston Springer Miller Herd & Titak Inc. raised its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 238.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,370 shares of the mining company's stock after buying an additional 5,191 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Agnico Eagle Mines were worth $876,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc boosted its position 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 during the period. Canada Pension Plan Investment Board boosted its holdings in Agnico Eagle Mines by 57.4% in 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 purchasing an additional 854,924 shares during the period. Nuveen LLC bought a new stake in Agnico Eagle Mines in the 1st quarter valued at $85,926,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Agnico Eagle Mines by 11.1% in 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 purchasing an additional 673,400 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $46,799,000. 68.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AEM. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada raised their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Zacks Research cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Finally, Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a research note on Monday, June 30th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $153.35 on Monday. The firm has a market cap of $77.11 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.05 and a beta of 0.44. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $156.18. The company's 50-day moving average price is $133.30 and its two-hundred day moving average price is $119.99. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The company 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%.The firm's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. On average, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal 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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