Cadinha & Co. LLC Purchases 214,143 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Cadinha & Co. LLC lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1,178.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 232,318 shares of the mining company’s stock after acquiring an additional 214,143 shares during the period. Agnico Eagle Mines accounts for about 3.2% of Cadinha & Co. LLC’s portfolio, making the stock its 15th largest position. Cadinha & Co. LLC’s holdings in Agnico Eagle Mines were worth $18,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of AEM. Balyasny Asset Management L.P. boosted its position in Agnico Eagle Mines by 1,607.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 848,375 shares of the mining company’s stock worth $46,533,000 after purchasing an additional 798,679 shares during the period. Grayhawk Investment Strategies Inc. bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $474,000. Paragon Associates & Paragon Associates II Joint Venture increased its position in shares of Agnico Eagle Mines by 20.0% during the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 150,000 shares of the mining company’s stock valued at $8,228,000 after acquiring an additional 25,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Agnico Eagle Mines by 13.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,071,399 shares of the mining company’s stock valued at $113,618,000 after acquiring an additional 243,467 shares in the last quarter. Finally, FIL Ltd increased its position in shares of Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after acquiring an additional 2,831,794 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM traded up $0.63 during trading hours on Thursday, reaching $78.80. The stock had a trading volume of 213,417 shares, compared to its average volume of 2,670,844. The business’s fifty day moving average is $79.78 and its two-hundred day moving average is $71.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The company has a market cap of $39.42 billion, a price-to-earnings ratio of 82.29, a PEG ratio of 0.78 and a beta of 1.10. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $85.14.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data 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 business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. As a group, research analysts expect that Agnico Eagle Mines Limited will post 3.73 EPS for the current year.

Wall Street Analyst Weigh In

AEM has been the topic of several analyst reports. CIBC lifted their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. BMO Capital Markets lowered their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada raised their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, UBS Group initiated coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

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.