McAlvany Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 37,090 shares of the mining company’s stock, valued at approximately $6,288,000. Agnico Eagle Mines accounts for about 4.8% of McAlvany Wealth Management LLC’s investment portfolio, making the stock its 4th largest position.
Several other hedge funds also recently added to or reduced their stakes in AEM. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Agnico Eagle Mines by 42.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock valued at $11,088,000 after acquiring an additional 19,647 shares during the period. TD Asset Management Inc boosted its position in Agnico Eagle Mines by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after purchasing an additional 143,645 shares in the last quarter. Gunderson Capital Management Inc. grew its stake in shares of Agnico Eagle Mines by 187.6% during the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock worth $8,155,000 after purchasing an additional 31,378 shares during the period. TB Alternative Assets Ltd. grew its stake in shares of Agnico Eagle Mines by 34.2% during the 4th quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock worth $38,929,000 after purchasing an additional 58,490 shares during the period. Finally, Cannell & Spears LLC grew its stake in shares of Agnico Eagle Mines by 15.0% during the 3rd quarter. Cannell & Spears LLC now owns 559,751 shares of the mining company’s stock worth $94,352,000 after purchasing an additional 72,932 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on AEM shares. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Canadian Imperial Bank of Commerce increased their price target on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $236.08.
Agnico Eagle Mines Stock Down 0.0%
Shares of AEM opened at $166.63 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24. The stock’s 50 day moving average is $186.15 and its two-hundred day moving average is $194.38. The firm has a market cap of $84.58 billion, a P/E ratio of 15.66, a PEG ratio of 3.66 and a beta of 0.56.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 EPS. Analysts predict that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.
Agnico Eagle Mines 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.
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