Agnico Eagle Mines Limited (NYSE:AEM) is Palliser Capital UK Ltd’s 9th Largest Position

Palliser Capital UK Ltd grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,666 shares of the mining company’s stock after purchasing an additional 2,166 shares during the period. Agnico Eagle Mines comprises approximately 3.0% of Palliser Capital UK Ltd’s investment portfolio, making the stock its 9th largest holding. Palliser Capital UK Ltd’s holdings in Agnico Eagle Mines were worth $4,484,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AEM. Continuum Advisory LLC increased its holdings in Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after buying an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Agnico Eagle Mines during the second quarter worth approximately $32,000. FSC Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines in the third quarter valued at approximately $32,000. McClarren Financial Advisors Inc. increased its position in shares of Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after buying an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its stake in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after buying an additional 350 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank raised 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. Finally, CIBC boosted their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Stock Down 0.6 %

Shares of NYSE:AEM opened at $85.80 on Friday. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. The stock has a market cap of $43.05 billion, a P/E ratio of 42.90, a PEG ratio of 0.78 and a beta of 1.10. The business has a fifty day moving average of $82.30 and a two-hundred day moving average of $74.13. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, October 30th. The mining company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.98%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $1.83 billion. On average, research analysts expect that Agnico Eagle Mines Limited will post 4.01 earnings per share for the current 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.