Gunderson Capital Management Inc. Makes New $3.58 Million Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Gunderson Capital Management Inc. purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 44,478 shares of the mining company’s stock, valued at approximately $3,583,000. Agnico Eagle Mines makes up 1.5% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Agnico Eagle Mines by 2.2% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after buying an additional 158 shares in the last quarter. Banque Cantonale Vaudoise boosted its position in shares of Agnico Eagle Mines by 2.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock valued at $369,000 after acquiring an additional 169 shares during the last quarter. Azzad Asset Management Inc. ADV grew its holdings in shares of Agnico Eagle Mines by 0.3% during the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after purchasing an additional 189 shares in the last quarter. Lombard Odier Asset Management Europe Ltd increased its position in shares of Agnico Eagle Mines by 0.4% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock worth $3,248,000 after purchasing an additional 190 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft raised its stake in Agnico Eagle Mines by 4.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after purchasing an additional 192 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Down 0.9 %

Shares of NYSE AEM traded down $0.67 during midday trading on Wednesday, hitting $77.51. The stock had a trading volume of 621,030 shares, compared to its average volume of 2,679,117. The company has a market cap of $38.78 billion, a P/E ratio of 82.29, a PEG ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $79.76 and its 200-day moving average is $71.24. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $85.14.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.65 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. As a group, analysts predict that Agnico Eagle Mines Limited will post 3.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on AEM. CIBC increased their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. TD Securities raised their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price objective 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. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average 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.