8,887 Agnico Eagle Mines Limited $AEM Shares Bought by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 23.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 45,995 shares of the mining company’s stock after acquiring an additional 8,887 shares during the period. Agnico Eagle Mines accounts for 4.1% of McAlvany Wealth Management LLC’s portfolio, making the stock its 4th largest position. McAlvany Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $8,430,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AEM. Walled Lake Planning & Wealth Management LLC acquired a new position in Agnico Eagle Mines during the third quarter worth approximately $219,000. Vise Technologies Inc. purchased a new position in Agnico Eagle Mines during the third quarter worth approximately $3,867,000. Cidel Asset Management Inc. raised its stake in Agnico Eagle Mines by 31.5% during the third quarter. Cidel Asset Management Inc. now owns 161,742 shares of the mining company’s stock worth $29,688,000 after purchasing an additional 38,731 shares during the period. MGO One Seven LLC boosted its holdings in shares of Agnico Eagle Mines by 6.5% in the 3rd quarter. MGO One Seven LLC now owns 5,347 shares of the mining company’s stock valued at $980,000 after purchasing an additional 328 shares during the last quarter. Finally, Aprio Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at $235,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 2.9%

NYSE AEM opened at $170.21 on Tuesday. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24. The company’s 50 day moving average price is $191.79 and its 200 day moving average price is $189.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a market capitalization of $86.29 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 2.71 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 28th. The mining company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.15. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 22.31%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the company posted $2.10 earnings per share. Agnico Eagle Mines’s revenue was up 17.1% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 11.40 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AEM. UBS Group boosted their price objective on shares of Agnico Eagle Mines from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Barclays cut their target price on Agnico Eagle Mines from $218.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday. Weiss Ratings upgraded Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 14th. Bank of America reduced their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research raised Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $227.00.

Agnico Eagle Mines Company Profile

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.