TD Asset Management Inc Grows Position in Agnico Eagle Mines Limited $AEM

TD Asset Management Inc raised its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,665,456 shares of the mining company’s stock after buying an additional 165,263 shares during the period. Agnico Eagle Mines comprises 1.3% of TD Asset Management Inc’s investment portfolio, making the stock its 15th largest position. TD Asset Management Inc’s holdings in Agnico Eagle Mines were worth $1,641,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEM. MCF Advisors LLC acquired a new position in Agnico Eagle Mines during the third quarter valued at approximately $34,000. Abound Wealth Management lifted its position in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after buying an additional 104 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $35,000. Caitlin John LLC acquired a new position in Agnico Eagle Mines during the third quarter valued at approximately $36,000. Finally, Bangor Savings Bank acquired a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $37,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on AEM. Canadian Imperial Bank of Commerce lifted their price target on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price target on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Barclays started coverage on shares of Agnico Eagle Mines in a research report on Thursday, May 21st. They set an “overweight” rating and a $213.00 price target on the stock. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $236.08.

Agnico Eagle Mines Trading Down 4.1%

NYSE AEM opened at $171.60 on Thursday. The company’s fifty day simple moving average is $194.59 and its 200-day simple moving average is $194.69. Agnico Eagle Mines Limited has a 52 week low of $114.60 and a 52 week high of $255.24. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The stock has a market cap of $85.88 billion, a P/E ratio of 16.13, a PEG ratio of 3.94 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 13.18 EPS for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.