Agnico Eagle Mines Limited $AEM is Connor Clark & Lunn Investment Management Ltd.’s 2nd Largest Position

Connor Clark & Lunn Investment Management Ltd. lowered its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 6,347,823 shares of the mining company’s stock after selling 372,478 shares during the quarter. Agnico Eagle Mines comprises approximately 2.7% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 2nd largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Agnico Eagle Mines were worth $756,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter worth $26,000. City State Bank grew its stake in Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after buying an additional 110 shares during the last quarter. Finally, Dagco Inc. purchased a new position in Agnico Eagle Mines during the 1st quarter worth $39,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AEM has been the subject of several recent analyst reports. Raymond James Financial raised their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Bank of America lifted their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday, October 23rd. Finally, Citigroup raised their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $184.50.

Agnico Eagle Mines Trading Up 1.2%

Agnico Eagle Mines stock opened at $161.28 on Friday. The stock has a 50-day moving average price of $161.41 and a 200 day moving average price of $136.04. The company has a market capitalization of $81.04 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $187.50. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the firm posted $1.14 EPS. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.