Tocqueville Asset Management L.P. Purchases New Position in Agnico Eagle Mines Limited $AEM

Tocqueville Asset Management L.P. purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 8,183 shares of the mining company’s stock, valued at approximately $1,269,000.

A number of other large investors have also added to or reduced their stakes in AEM. Acumen Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $26,000. Dunhill Financial LLC bought a new stake in Agnico Eagle Mines in the second quarter worth $31,000. Jessup Wealth Management Inc purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at $35,000. Allied Private Wealth LLC purchased a new stake in Agnico Eagle Mines during the second quarter valued at $36,000. Finally, Banque Cantonale Vaudoise bought a new position in Agnico Eagle Mines during the fourth quarter valued at $39,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Scotiabank reduced their price objective on 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. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Finally, Zacks Research lowered Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Stock Up 1.8%

NYSE:AEM opened at $211.40 on Friday. The company has a market cap of $107.16 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.58 and a beta of 0.60. Agnico Eagle Mines Limited has a twelve month low of $133.80 and a twelve month high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $159.95 and a 200-day simple moving average of $186.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm’s revenue was up 35.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 EPS. Analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS 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.