Blue Trust Inc. Grows Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Blue Trust Inc. raised its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 124.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,663 shares of the mining company’s stock after acquiring an additional 2,029 shares during the period. Blue Trust Inc.’s holdings in Agnico Eagle Mines were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new position in shares of Agnico Eagle Mines during the first quarter valued at $66,000. Wealthcare Advisory Partners LLC bought a new position in shares of Agnico Eagle Mines during the first quarter valued at $426,000. Janiczek Wealth Management LLC lifted its holdings in shares of Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares in the last quarter. Galibier Capital Management Ltd. lifted its holdings in shares of Agnico Eagle Mines by 5.7% during the first quarter. Galibier Capital Management Ltd. now owns 489,610 shares of the mining company’s stock valued at $29,223,000 after purchasing an additional 26,524 shares in the last quarter. Finally, Stephens Consulting LLC bought a new position in shares of Agnico Eagle Mines during the first quarter valued at $30,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TD Securities increased their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, October 4th. StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. UBS Group assumed coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Scotiabank upped their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $87.97 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The stock has a 50-day moving average price of $81.64 and a 200 day moving average price of $73.06. The stock has a market capitalization of $44.01 billion, a P/E ratio of 92.60, a P/E/G ratio of 0.71 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $0.65 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. Equities research analysts forecast that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

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.