U S Global Investors Inc. Increases Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• U S Global Investors Inc. increased its holdings in Agnico Eagle Mines Limited by 27.7%, owning 41,500 shares worth approximately $4.94 million after adding 9,000 shares during the second quarter.
• Several hedge funds also boosted their positions in Agnico Eagle Mines, with Canada Pension Plan Investment Board growing its stake by 57.4% in the first quarter.
• Analysts have a consensus rating of “Buy” on Agnico Eagle Mines stock, with price targets from UBS Group and TD Securities reflecting strong expectations for future growth.

U S Global Investors Inc. increased its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 27.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,500 shares of the mining company's stock after buying an additional 9,000 shares during the period. U S Global Investors Inc.'s holdings in Agnico Eagle Mines were worth $4,936,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position 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 valued at $1,457,160,000 after purchasing an additional 499,362 shares during the period. TD Asset Management Inc raised its position 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 valued at $978,553,000 after purchasing an additional 2,709,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position 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 valued at $728,214,000 after purchasing an additional 673,400 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of 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 valued at $254,029,000 after buying an additional 854,924 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of 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 valued at $214,361,000 after buying an additional 189,935 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of analyst reports. Zacks Research raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. UBS Group increased their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, September 19th. Raymond James Financial increased their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an "outperform" rating in a research note on Friday. TD Securities increased their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Bank of America increased their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Six analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $162.10.

Agnico Eagle Mines Stock Up 1.6%

Agnico Eagle Mines stock opened at $164.28 on Friday. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $172.21. The business has a fifty day moving average of $149.57 and a two-hundred day moving average of $128.20. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm has a market cap of $82.60 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.08 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS 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 firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business's revenue for the quarter was up 35.6% compared to the same quarter last year. On average, analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share 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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