United Capital Financial Advisors LLC Takes $504,000 Position in Agnico Eagle Mines Limited $AEM

United Capital Financial Advisors LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,252 shares of the mining company’s stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Deutsche Bank AG acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at $1,362,158,000. Norges Bank acquired a new stake in Agnico Eagle Mines in the fourth quarter worth about $1,367,783,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Agnico Eagle Mines in the second quarter worth about $927,602,000. Bank of America Corp DE bought a new position in Agnico Eagle Mines in the 2nd quarter valued at about $844,096,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Agnico Eagle Mines during the 2nd quarter valued at about $608,054,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Performance

AEM stock opened at $203.16 on Tuesday. The firm has a 50 day simple moving average of $166.23 and a 200 day simple moving average of $187.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24. The stock has a market cap of $102.98 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.56 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business posted $1.94 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 35.0% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on AEM. Zacks Research cut shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. JPMorgan Chase & Co. increased their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Scotiabank dropped their price objective on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Royal Bank Of Canada cut their price target on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a report on Thursday, July 9th. Finally, Barclays cut their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines 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.