Agnico Eagle Mines Limited $AEM Position Lifted by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.7% in the third quarter, Holdings Channel.com reports. The firm owned 3,655,707 shares of the mining company’s stock after acquiring an additional 131,514 shares during the quarter. Agnico Eagle Mines makes up approximately 1.7% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 13th biggest position. TD Waterhouse Canada Inc.’s holdings in Agnico Eagle Mines were worth $659,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Banque Pictet & Cie SA boosted its stake in Agnico Eagle Mines by 1,073.6% during the third quarter. Banque Pictet & Cie SA now owns 21,124 shares of the mining company’s stock worth $3,877,000 after buying an additional 19,324 shares during the last quarter. Annex Advisory Services LLC increased its stake in shares of Agnico Eagle Mines by 19.1% in the 3rd quarter. Annex Advisory Services LLC now owns 34,534 shares of the mining company’s stock worth $6,329,000 after acquiring an additional 5,527 shares during the last quarter. Global Strategic Management Inc. increased its stake in shares of Agnico Eagle Mines by 9.6% in the 3rd quarter. Global Strategic Management Inc. now owns 78,550 shares of the mining company’s stock worth $14,408,000 after acquiring an additional 6,903 shares during the last quarter. Davidson Capital Management Inc. increased its stake in shares of Agnico Eagle Mines by 5.7% in the 3rd quarter. Davidson Capital Management Inc. now owns 31,213 shares of the mining company’s stock worth $5,720,000 after acquiring an additional 1,684 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Agnico Eagle Mines by 2.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 16,210 shares of the mining company’s stock worth $2,975,000 after acquiring an additional 349 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AEM shares. Weiss Ratings raised shares of Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Canadian Imperial Bank of Commerce set a $239.00 price objective on shares of Agnico Eagle Mines in a report on Friday. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their price objective for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Citigroup reduced their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Finally, Royal Bank Of Canada boosted their target price on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.08.

Agnico Eagle Mines Trading Up 0.9%

AEM stock traded up $1.78 during midday trading on Friday, hitting $189.34. 2,107,751 shares of the company’s stock were exchanged, compared to its average volume of 1,753,068. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $95.98 billion, a PE ratio of 16.20, a P/E/G ratio of 2.75 and a beta of 0.64. The business has a 50-day simple moving average of $195.20 and a two-hundred day simple moving average of $181.77.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The company’s quarterly revenue was up 35.0% on a year-over-year basis. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.