Laurel Wealth Advisors LLC Boosts Holdings in Agnico Eagle Mines Limited $AEM

Laurel Wealth Advisors LLC lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11,793.0% in the second quarter, Holdings Channel reports. The firm owned 30,684 shares of the mining company’s stock after buying an additional 30,426 shares during the period. Laurel Wealth Advisors LLC’s holdings in Agnico Eagle Mines were worth $3,649,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AEM. Edmond DE Rothschild Holding S.A. boosted its holdings in Agnico Eagle Mines by 32.6% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 81,810 shares of the mining company’s stock worth $9,710,000 after buying an additional 20,111 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at approximately $134,059,000. Global Retirement Partners LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter worth approximately $242,000. Jefferies Financial Group Inc. acquired a new stake in shares of Agnico Eagle Mines in the second quarter worth approximately $202,000. Finally, Prudential Financial Inc. increased its position in shares of Agnico Eagle Mines by 55.5% during the second quarter. Prudential Financial Inc. now owns 51,381 shares of the mining company’s stock worth $6,109,000 after purchasing an additional 18,344 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. UBS Group increased their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday, October 23rd. Raymond James Financial upped 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, October 10th. Finally, CIBC increased their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Five investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $184.50.

Agnico Eagle Mines Trading Up 4.3%

Shares of AEM opened at $173.07 on Friday. Agnico Eagle Mines Limited has a 12-month low of $76.91 and a 12-month high of $187.50. The firm has a market capitalization of $86.82 billion, a P/E ratio of 25.27, a P/E/G ratio of 0.70 and a beta of 0.45. The firm has a 50-day moving average price of $165.80 and a 200 day moving average price of $140.83. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business posted $1.14 EPS. Sell-side analysts forecast 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.