Geode Capital Management LLC Raises Position in Agnico Eagle Mines Limited $AEM

Geode Capital Management LLC lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,108,126 shares of the mining company’s stock after purchasing an additional 342,113 shares during the quarter. Geode Capital Management LLC’s holdings in Agnico Eagle Mines were worth $893,167,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MCF Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth $34,000. Abound Wealth Management boosted its position in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter worth $35,000. Caitlin John LLC acquired a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth $36,000. Finally, Bangor Savings Bank acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AEM shares. TD upped their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Scotiabank reissued an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Trading Up 3.1%

Shares of Agnico Eagle Mines stock opened at $183.56 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The firm has a fifty day moving average price of $195.01 and a 200 day moving average price of $194.38. Agnico Eagle Mines Limited has a 1 year low of $114.60 and a 1 year high of $255.24. The stock has a market cap of $91.87 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.88 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same period last year, the company earned $1.53 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current year.

Agnico Eagle Mines Company Profile

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.