Agnico Eagle Mines Limited $AEM Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management raised its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 47.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,684 shares of the mining company’s stock after purchasing an additional 9,579 shares during the period. Ritholtz Wealth Management’s holdings in Agnico Eagle Mines were worth $6,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Agnico Eagle Mines by 2.9% in the first quarter. Blue Trust Inc. now owns 3,641 shares of the mining company’s stock worth $739,000 after buying an additional 101 shares during the last quarter. RFG Advisory LLC boosted its stake in Agnico Eagle Mines by 3.8% during the 1st quarter. RFG Advisory LLC now owns 6,870 shares of the mining company’s stock valued at $1,394,000 after acquiring an additional 252 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the 1st quarter valued at $222,000. Banque Cantonale Vaudoise grew its holdings in Agnico Eagle Mines by 964.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,449 shares of the mining company’s stock worth $496,000 after acquiring an additional 2,219 shares in the last quarter. Finally, Apella Capital LLC acquired a new position in Agnico Eagle Mines during the 1st quarter worth $220,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AEM has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price target on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. TD boosted their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, TD Securities upped their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $153.20 on Thursday. The company has a market cap of $77.76 billion, a PE ratio of 14.40, a P/E/G ratio of 3.52 and a beta of 0.56. The company has a fifty day moving average price of $182.71 and a two-hundred day moving average price of $194.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The firm’s revenue for the quarter was up 66.1% compared to the same quarter last year. Research analysts expect that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current year.

Agnico Eagle Mines Company 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.