Perigon Wealth Management LLC Buys Shares of 8,177 Agnico Eagle Mines Limited $AEM

Perigon Wealth Management LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, Holdings Channel reports. The firm bought 8,177 shares of the mining company’s stock, valued at approximately $1,269,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AEM. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Agnico Eagle Mines by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock valued at $893,000 after buying an additional 59 shares during the period. PNC Financial Services Group Inc. lifted its stake in Agnico Eagle Mines by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock worth $2,422,000 after acquiring an additional 63 shares during the period. Syon Capital LLC grew its holdings in Agnico Eagle Mines by 1.8% during the 4th quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock worth $623,000 after acquiring an additional 65 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Agnico Eagle Mines by 1.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock worth $728,000 after acquiring an additional 67 shares in the last quarter. Finally, Rossby Financial LCC raised its holdings in shares of Agnico Eagle Mines by 1.1% in the 4th quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock valued at $1,197,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

AEM stock opened at $186.79 on Wednesday. Agnico Eagle Mines Limited has a one year low of $130.04 and a one year high of $255.24. The firm has a market cap of $94.68 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.32 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a 50-day simple moving average of $157.75 and a two-hundred day simple moving average of $186.40.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 EPS. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AEM. Zacks Research downgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. UBS Group lowered their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Weiss Ratings cut Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $226.00.

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.