Blue Trust Inc. Increases Stock Holdings in Agnico Eagle Mines Limited $AEM

Blue Trust Inc. boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,757 shares of the mining company’s stock after acquiring an additional 200 shares during the quarter. Blue Trust Inc.’s holdings in Agnico Eagle Mines were worth $328,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Costello Asset Management INC boosted its stake in shares of Agnico Eagle Mines by 2,166.7% in the second quarter. Costello Asset Management INC now owns 340 shares of the mining company’s stock valued at $40,000 after purchasing an additional 325 shares during the period. Wealthstar Advisors LLC boosted its position in Agnico Eagle Mines by 9.9% in the 2nd quarter. Wealthstar Advisors LLC now owns 9,370 shares of the mining company’s stock valued at $1,114,000 after buying an additional 846 shares during the period. IFP Advisors Inc boosted its position in Agnico Eagle Mines by 44.3% in the 2nd quarter. IFP Advisors Inc now owns 6,823 shares of the mining company’s stock valued at $812,000 after buying an additional 2,095 shares during the period. Mainstay Capital Management LLC ADV purchased a new position in Agnico Eagle Mines in the 2nd quarter valued at approximately $215,000. Finally, US Bancorp DE boosted its position in Agnico Eagle Mines by 53.5% in the 2nd quarter. US Bancorp DE now owns 10,605 shares of the mining company’s stock valued at $1,261,000 after buying an additional 3,697 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AEM shares. Weiss Ratings reiterated a “buy (a)” rating on shares of Agnico Eagle Mines in a report on Wednesday, October 8th. TD Securities boosted their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. CIBC boosted their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research report on Friday. Finally, Bank of America lifted their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Six investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and a consensus target price of $162.10.

Agnico Eagle Mines Price Performance

AEM stock opened at $172.11 on Tuesday. The business has a 50 day moving average price of $150.38 and a 200 day moving average price of $128.96. The stock has a market cap of $86.54 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 1.09 and a beta of 0.46. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $172.29. 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 (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 EPS. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines 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.