Teacher Retirement System of Texas Purchases 90,000 Shares of Agnico Eagle Mines Limited $AEM

Teacher Retirement System of Texas raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 180.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 140,000 shares of the mining company’s stock after purchasing an additional 90,000 shares during the quarter. Teacher Retirement System of Texas’ holdings in Agnico Eagle Mines were worth $16,650,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AEM. Brighton Jones LLC grew its stake in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $34,000. Sequoia Financial Advisors LLC lifted its position in shares of Agnico Eagle Mines by 29.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,807 shares of the mining company’s stock valued at $413,000 after buying an additional 856 shares in the last quarter. KBC Group NV purchased a new stake in Agnico Eagle Mines in the 1st quarter worth approximately $1,638,000. Finally, Avidian Wealth Enterprises LLC increased its holdings in Agnico Eagle Mines by 8.8% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 3,362 shares of the mining company’s stock worth $364,000 after acquiring an additional 271 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Up 1.0%

Agnico Eagle Mines stock opened at $156.79 on Wednesday. The stock has a market cap of $78.83 billion, a P/E ratio of 26.66, a PEG ratio of 0.69 and a beta of 0.46. 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 1 year low of $75.17 and a 1 year high of $187.50. The firm’s 50 day moving average price is $157.97 and its 200-day moving average price is $133.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $1.07 earnings per share. On average, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. TD Securities raised their price target on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Bank of America boosted their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Citigroup increased their target price on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Five research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus target price of $184.50.

About Agnico Eagle Mines

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.