Agnico Eagle Mines Limited $AEM Stock: Leuthold Group LLC Raises Position

Leuthold Group LLC raised its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,983 shares of the mining company’s stock after purchasing an additional 2,926 shares during the period. Leuthold Group LLC’s holdings in Agnico Eagle Mines were worth $5,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fortitude Family Office LLC raised its stake in shares of Agnico Eagle Mines by 600.0% during the 3rd quarter. Fortitude Family Office LLC now owns 140 shares of the mining company’s stock worth $26,000 after buying an additional 120 shares during the period. Markowski Investments acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at $29,000. Sawyer & Company Inc acquired a new stake in Agnico Eagle Mines in the 3rd quarter valued at $35,000. Dunhill Financial LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at $31,000. Finally, Fiduciary Financial Advisors purchased a new stake in Agnico Eagle Mines in the 2nd quarter worth $32,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AEM. Citigroup reduced their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Canadian Imperial Bank of Commerce set a $239.00 target price on shares of Agnico Eagle Mines in a research report on Friday, October 16th. RBC Dominion Securities set a $225.00 target price on shares of Agnico Eagle Mines and gave the company a “sector perform” rating in a research report on Thursday, October 22nd. UBS Group boosted their target price on shares of Agnico Eagle Mines from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Finally, Zacks Research upgraded shares of Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $227.00.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $200.58 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.75 and a quick ratio of 1.90. The stock’s 50 day simple moving average is $188.86 and its 200-day simple moving average is $188.93. The company has a market cap of $101.47 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.79 and a beta of 0.69. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 28th. The mining company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.47 by $0.15. Agnico Eagle Mines had a return on equity of 21.68% and a net margin of 41.01%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the business earned $2.10 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.42 EPS for the current fiscal year.

About Agnico Eagle Mines

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.