Bleakley Financial Group LLC Acquires New Position in Agnico Eagle Mines Limited $AEM

Bleakley Financial Group LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,945 shares of the mining company’s stock, valued at approximately $1,540,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEM. Ameritas Advisory Services LLC bought a new stake in shares of Agnico Eagle Mines during the second quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Agnico Eagle Mines during the first quarter worth $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Agnico Eagle Mines during the first quarter worth $26,000. Private Trust Co. NA grew its stake in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after buying an additional 232 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines during the first quarter worth $34,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $163.43 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $187.50. The stock has a market cap of $82.18 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 0.74 and a beta of 0.46. The company’s fifty day moving average is $157.00 and its 200 day moving average is $132.78.

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

Analyst Ratings Changes

A number of analysts have weighed in on AEM shares. Raymond James Financial boosted 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 note on Friday, October 10th. Bank of America boosted their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, CIBC boosted their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Five analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $184.50.

Agnico Eagle Mines Company 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.