Montrusco Bolton Investments Inc. Purchases Shares of 172,101 Agnico Eagle Mines Limited $AEM

Montrusco Bolton Investments Inc. purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 172,101 shares of the mining company’s stock, valued at approximately $20,463,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in Agnico Eagle Mines by 3.9% during the 1st 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 purchasing an additional 499,362 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock worth $978,553,000 after buying an additional 2,709,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock worth $728,214,000 after buying an additional 673,400 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Agnico Eagle Mines by 57.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock worth $254,029,000 after buying an additional 854,924 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Agnico Eagle Mines by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company’s stock worth $214,361,000 after buying an additional 189,935 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 1.6%

Shares of AEM stock opened at $164.28 on Monday. The company’s fifty day simple moving average is $149.57 and its two-hundred day simple moving average is $128.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $172.21. The stock has a market capitalization of $82.60 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.09 and a beta of 0.46.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings reissued a “buy (a)” rating on shares of Agnico Eagle Mines in a research report on Wednesday, October 8th. TD Securities lifted their target price on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Lake Street Capital reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Raymond James Financial lifted their target price on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, National Bankshares reissued an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $162.10.

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.