Stonehage Fleming Financial Services Holdings Ltd Invests $41,000 in Agnico Eagle Mines Limited $AEM

Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, Holdings Channel.com reports. The fund bought 344 shares of the mining company’s stock, valued at approximately $41,000.

Several other hedge funds also recently made changes to their positions in AEM. TD Asset Management Inc increased its stake in Agnico Eagle Mines by 42.8% in the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after acquiring an additional 2,709,005 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Agnico Eagle Mines by 57.4% in the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock valued at $254,029,000 after acquiring an additional 854,924 shares during the last quarter. Nuveen LLC bought a new position in Agnico Eagle Mines in the first quarter valued at approximately $85,926,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Agnico Eagle Mines by 11.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock valued at $728,214,000 after acquiring an additional 673,400 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Agnico Eagle Mines by 3.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock valued at $1,457,160,000 after acquiring an additional 499,362 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AEM shares. TD Securities lifted their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America lifted their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Raymond James Financial lifted their price objective on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings reissued a “buy (a)” rating on shares of Agnico Eagle Mines in a research note on Wednesday. Finally, CIBC raised their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday. Six equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $162.10.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $164.28 on Friday. 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 Limited has a twelve month low of $75.17 and a twelve month high of $172.21. The stock has a market cap of $82.60 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.10 and a beta of 0.46. The company’s fifty day moving average is $149.57 and its 200 day moving average is $128.37.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Company 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.