Washington Capital Management Inc. lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,190 shares of the mining company’s stock after selling 675 shares during the quarter. Agnico Eagle Mines accounts for approximately 1.6% of Washington Capital Management Inc.’s holdings, making the stock its 7th largest holding. Washington Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $2,029,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Continuum Advisory LLC raised its stake in shares of Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the period. Stephens Consulting LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at about $30,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at about $32,000. Janiczek Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 406.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the period. Finally, WASHINGTON TRUST Co raised its stake in shares of Agnico Eagle Mines by 92.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on AEM. UBS Group began coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. BMO Capital Markets lowered their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. CIBC lifted their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank lifted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.
Agnico Eagle Mines Stock Up 2.1 %
NYSE AEM traded up $1.71 during trading hours on Tuesday, hitting $81.53. The company’s stock had a trading volume of 1,116,888 shares, compared to its average volume of 2,657,032. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $85.14. The company has a market capitalization of $40.79 billion, a PE ratio of 84.03, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The company’s 50-day simple moving average is $80.06 and its two-hundred day simple moving average is $71.86.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business posted $0.65 EPS. Agnico Eagle Mines’s quarterly revenue was up 20.9% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.
Agnico Eagle Mines Profile
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.
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