Evanson Asset Management LLC Grows Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Evanson Asset Management LLC increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,023 shares of the mining company’s stock after buying an additional 200 shares during the period. Evanson Asset Management LLC’s holdings in Agnico Eagle Mines were worth $324,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its position in shares of Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after buying an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in Agnico Eagle Mines in the second quarter valued at $32,000. Stephens Consulting LLC purchased a new stake in Agnico Eagle Mines during the first quarter valued at about $30,000. Janiczek Wealth Management LLC lifted its stake in Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after purchasing an additional 569 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $78.18 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The firm has a market cap of $39.11 billion, a P/E ratio of 82.29, a P/E/G ratio of 0.78 and a beta of 1.10. The business’s 50 day moving average price is $79.76 and its 200-day moving average price is $71.24. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $85.14.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 3.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. TD Securities boosted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Scotiabank increased their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, BMO Capital Markets lowered their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

About Agnico Eagle Mines

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.