McAlvany Wealth Management LLC Buys New Position in Agnico Eagle Mines Limited $AEM

McAlvany Wealth Management LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 37,090 shares of the mining company’s stock, valued at approximately $6,288,000. Agnico Eagle Mines comprises 4.8% of McAlvany Wealth Management LLC’s holdings, making the stock its 4th biggest holding.

Several other institutional investors have also added to or reduced their stakes in AEM. Capital World Investors increased its holdings in shares of Agnico Eagle Mines by 2.8% during the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after acquiring an additional 572,473 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Agnico Eagle Mines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock valued at $3,557,772,000 after purchasing an additional 309,717 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after purchasing an additional 3,062,705 shares during the last quarter. TD Asset Management Inc boosted its stake in Agnico Eagle Mines by 1.7% in the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after purchasing an additional 165,263 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Agnico Eagle Mines by 4.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock worth $1,489,509,000 after purchasing an additional 332,797 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

AEM has been the topic of several research analyst reports. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. TD Securities raised their price target on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce lifted their price objective on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Trading Down 0.0%

Agnico Eagle Mines stock opened at $166.63 on Friday. The stock has a 50-day moving average price of $186.15 and a 200 day moving average price of $194.38. The company has a market capitalization of $84.58 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 3.66 and a beta of 0.56. Agnico Eagle Mines Limited has a 52 week low of $114.60 and a 52 week high of $255.24. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the company earned $1.53 EPS. Agnico Eagle Mines’s quarterly revenue was up 66.1% on a year-over-year basis. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

About Agnico Eagle Mines

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.