Formuepleje A S Makes New Investment in Agnico Eagle Mines Limited $AEM

Formuepleje A S bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,316 shares of the mining company’s stock, valued at approximately $1,158,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fortitude Family Office LLC increased its stake in shares of Agnico Eagle Mines by 600.0% in the third quarter. Fortitude Family Office LLC now owns 140 shares of the mining company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Agnico Eagle Mines by 16.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 26,033 shares of the mining company’s stock valued at $4,771,000 after acquiring an additional 3,612 shares in the last quarter. Perpetual Ltd bought a new stake in Agnico Eagle Mines during the 3rd quarter valued at approximately $597,000. Wedmont Private Capital boosted its stake in Agnico Eagle Mines by 6.1% in the 3rd quarter. Wedmont Private Capital now owns 1,745 shares of the mining company’s stock worth $321,000 after purchasing an additional 101 shares during the period. Finally, Cadent Capital Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the third quarter valued at approximately $2,340,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEM has been the subject of several research analyst reports. Scotia cut their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Royal Bank Of Canada boosted their target price on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Wall Street Zen lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Scotiabank reduced their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of $225.62.

Agnico Eagle Mines Stock Up 4.6%

AEM stock traded up $8.15 during trading on Thursday, reaching $185.16. 1,271,129 shares of the company traded hands, compared to its average volume of 2,655,098. The business has a 50 day simple moving average of $194.60 and a 200 day simple moving average of $181.75. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company has a market capitalization of $93.86 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 2.72 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm earned $1.94 earnings per share. Agnico Eagle Mines’s revenue was up 35.0% compared to the same quarter last year. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.