Hollencrest Capital Management Increases Stake in Agnico Eagle Mines Limited $AEM

Hollencrest Capital Management grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 60,025 shares of the mining company’s stock after purchasing an additional 4,119 shares during the quarter. Hollencrest Capital Management’s holdings in Agnico Eagle Mines were worth $10,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ninety One UK Ltd raised its stake in shares of Agnico Eagle Mines by 386.5% in the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after buying an additional 149,506 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in Agnico Eagle Mines by 1,560.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after acquiring an additional 45,746 shares in the last quarter. Addenda Capital Inc. raised its stake in Agnico Eagle Mines by 2.3% during the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock worth $122,076,000 after acquiring an additional 15,965 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Agnico Eagle Mines by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after purchasing an additional 602,489 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Agnico Eagle Mines by 12.7% in the second quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock worth $52,101,000 after purchasing an additional 49,480 shares during the period. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

AEM has been the topic of several recent analyst reports. Raymond James Financial restated an “outperform” rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Citigroup raised their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. started coverage on Agnico Eagle Mines in a research report on Thursday. They set a “neutral” rating and a $248.00 target price for the company. TD Securities upped their price target on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $220.18.

Agnico Eagle Mines Trading Up 3.2%

Shares of AEM opened at $223.17 on Thursday. The stock has a market capitalization of $111.74 billion, a PE ratio of 32.58, a P/E/G ratio of 0.63 and a beta of 0.63. The company’s fifty day moving average is $181.18 and its 200 day moving average is $161.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. Agnico Eagle Mines Limited has a fifty-two week low of $89.16 and a fifty-two week high of $224.30.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same period last year, the company posted $1.14 EPS. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal 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.