Confluence Investment Management LLC Takes $1.12 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

Confluence Investment Management LLC purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,816 shares of the mining company’s stock, valued at approximately $1,122,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp increased its stake in Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after buying an additional 1,995,127 shares in the last quarter. FIL Ltd lifted its holdings in shares of Agnico Eagle Mines by 16.4% in the 4th 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Agnico Eagle Mines by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock valued at $963,320,000 after acquiring an additional 338,264 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Agnico Eagle Mines by 0.4% in the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after acquiring an additional 41,068 shares during the last quarter. Finally, Capital World Investors lifted its stake in Agnico Eagle Mines by 12.0% in the fourth quarter. Capital World Investors now owns 9,690,000 shares of the mining company’s stock worth $531,284,000 after purchasing an additional 1,034,721 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on AEM shares. TD Securities raised their price objective on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. CIBC raised their price objective on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. BMO Capital Markets raised their price objective on shares of Agnico Eagle Mines from $78.00 to $79.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $72.22.

Agnico Eagle Mines Trading Up 0.0 %

Shares of Agnico Eagle Mines stock traded up $0.01 on Tuesday, hitting $64.26. 621,391 shares of the company traded hands, compared to its average volume of 3,023,244. The company has a market cap of $32.15 billion, a PE ratio of 67.56, a PEG ratio of 0.70 and a beta of 1.11. The stock’s 50 day moving average price is $65.74 and its 200-day moving average price is $57.22. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $71.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. Agnico Eagle Mines’s revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 3.2 EPS for the current year.

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.