Agnico Eagle Mines Limited $AEM Stake Raised by Ethic Inc.

Ethic Inc. grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 108.4% during the third quarter, Holdings Channel.com reports. The fund owned 5,529 shares of the mining company’s stock after acquiring an additional 2,876 shares during the period. Ethic Inc.’s holdings in Agnico Eagle Mines were worth $1,013,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC increased its holdings in Agnico Eagle Mines by 600.0% in the 3rd quarter. Fortitude Family Office LLC now owns 140 shares of the mining company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Markowski Investments purchased a new stake in Agnico Eagle Mines in the second quarter valued at approximately $29,000. Sawyer & Company Inc purchased a new stake in Agnico Eagle Mines in the third quarter valued at approximately $35,000. Dunhill Financial LLC purchased a new stake in Agnico Eagle Mines in the second quarter valued at approximately $31,000. Finally, Fiduciary Financial Advisors acquired a new position in Agnico Eagle Mines during the second quarter worth $32,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Agnico Eagle Mines

Investors following AEM have been watching these headlines:

• Positive Sentiment: Agnico is generating solid free cash flow and showing operating leverage to gold prices. One article also notes that the miners-to-gold ratio remains below its long-term average, suggesting investors may not fully reflect miners’ cash generation in valuations. Article: Agnico Eagle Mines Is Showing Strong Free Cash Flow Leverage To Gold
• Neutral Sentiment: Gold-fund flows are divided: U.S. gold ETFs have seen outflows, while European and Asian funds have attracted inflows. This mixed demand picture could add uncertainty around the metal-price backdrop.
• Negative Sentiment: Recent article headlines cite cost pressure as projects advance and costs rise. One says the company held its outlook, which may temper concern, but rising costs remain a risk to margins. Article: Agnico Eagle Mines Stock Faces Cost Pressure as Projects Advance Article: Agnico Eagle Mines Stock Holds Outlook as Costs Rise

Agnico Eagle Mines Stock Up 0.0%

Shares of NYSE AEM opened at $178.42 on Friday. The stock has a market cap of $90.26 billion, a P/E ratio of 14.55, a PEG ratio of 2.73 and a beta of 0.69. The business’s fifty day simple moving average is $187.53 and its 200-day simple moving average is $188.30. Agnico Eagle Mines Limited has a 12-month low of $134.38 and a 12-month high of $255.24. The company has a current ratio of 2.75, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 28th. The mining company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.15. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 21.68%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 earnings per share. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 11.36 EPS for the current fiscal year.

Analyst Ratings Changes

AEM has been the subject of several research analyst reports. Freedom Broker upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $212.00 price target for the company in a research report on Monday, November 2nd. Citigroup decreased their target price on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Barclays dropped their target price on Agnico Eagle Mines from $218.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, November 2nd. Royal Bank Of Canada boosted their price target on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th. Finally, Raymond James Financial reduced their price target on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 4th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $227.00.

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.