Envestnet Asset Management Inc. Increases Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Envestnet Asset Management Inc. lifted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,063 shares of the mining company’s stock after buying an additional 6,043 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Agnico Eagle Mines worth $21,390,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Financial Sense Advisors Inc. lifted its holdings in Agnico Eagle Mines by 372.3% in the first quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock valued at $3,718,000 after acquiring an additional 49,132 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $2,297,000. Manning & Napier Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at about $2,595,000. FIL Ltd increased its holdings in Agnico Eagle Mines by 16.4% in the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after buying an additional 2,831,794 shares in the last quarter. Finally, Crestline Management LP lifted its position in shares of Agnico Eagle Mines by 28.8% during the 4th quarter. Crestline Management LP now owns 180,891 shares of the mining company’s stock valued at $9,922,000 after acquiring an additional 40,483 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $83.13 on Monday. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $84.65. The firm has a 50 day simple moving average of $78.17 and a 200-day simple moving average of $69.05. The firm has a market cap of $41.59 billion, a PE ratio of 87.51, a P/E/G ratio of 0.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. Agnico Eagle Mines’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. On average, equities analysts expect that Agnico Eagle Mines Limited will post 3.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AEM. UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. Royal Bank of Canada raised their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank boosted their price objective on shares of 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. Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Finally, CIBC lifted their target price on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

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.