Acadian Asset Management LLC Increases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Acadian Asset Management LLC boosted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 448.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 39,500 shares of the mining company’s stock after purchasing an additional 32,300 shares during the period. Acadian Asset Management LLC’s holdings in Agnico Eagle Mines were worth $2,580,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AEM. Private Advisor Group LLC boosted its position in Agnico Eagle Mines by 111.9% in the fourth quarter. Private Advisor Group LLC now owns 10,116 shares of the mining company’s stock worth $555,000 after purchasing an additional 5,342 shares during the last quarter. SCP Investment LP purchased a new position in Agnico Eagle Mines in the fourth quarter worth about $292,000. Principal Securities Inc. purchased a new position in Agnico Eagle Mines in the fourth quarter worth about $119,000. Dimensional Fund Advisors LP boosted its position in Agnico Eagle Mines by 19.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,745,423 shares of the mining company’s stock worth $150,588,000 after purchasing an additional 451,814 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Agnico Eagle Mines by 2.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 16,031 shares of the mining company’s stock worth $879,000 after purchasing an additional 339 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 1.6 %

AEM stock opened at $83.16 on Friday. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $83.95. 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 capitalization of $41.65 billion, a price-to-earnings ratio of 87.54, a PEG ratio of 0.77 and a beta of 1.10. The business has a 50 day simple moving average of $77.21 and a two-hundred day simple moving average of $67.68.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines Limited will post 3.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AEM shares. Royal Bank of Canada raised their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday. TD Securities lifted their price objective 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. BMO Capital Markets lowered their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Scotiabank lifted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.38.

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.