3,389 Shares in Agnico Eagle Mines Limited (NYSE:AEM) Bought by Eastern Bank

Eastern Bank bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,389 shares of the mining company’s stock, valued at approximately $273,000.

A number of other large investors have also recently added to or reduced their stakes in AEM. Sunbelt Securities Inc. bought a new position in shares of Agnico Eagle Mines during the 1st quarter worth approximately $66,000. Wealthcare Advisory Partners LLC acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at $426,000. Janiczek Wealth Management LLC lifted its position in Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares in the last quarter. Galibier Capital Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 5.7% during the 1st quarter. Galibier Capital Management Ltd. now owns 489,610 shares of the mining company’s stock worth $29,223,000 after buying an additional 26,524 shares during the last quarter. Finally, Stephens Consulting LLC bought a new position in shares of Agnico Eagle Mines in the 1st quarter valued at about $30,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AEM. UBS Group initiated coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target for the company. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Scotiabank lifted their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Trading Down 0.7 %

Shares of AEM stock opened at $87.97 on Friday. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The company has a market capitalization of $44.01 billion, a PE ratio of 92.60, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. The firm has a 50 day moving average price of $81.64 and a two-hundred day moving average price of $73.06. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, analysts predict that Agnico Eagle Mines Limited will post 3.88 earnings per share for the current year.

About Agnico Eagle Mines

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.