Ritholtz Wealth Management Acquires 4,687 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Ritholtz Wealth Management raised its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 138.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,072 shares of the mining company’s stock after purchasing an additional 4,687 shares during the period. Ritholtz Wealth Management’s holdings in Agnico Eagle Mines were worth $650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Continuum Advisory LLC boosted its holdings in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares during the period. Abich Financial Wealth Management LLC bought a new stake in Agnico Eagle Mines in the 2nd quarter valued at $32,000. Stephens Consulting LLC acquired a new position in Agnico Eagle Mines in the 1st quarter valued at $30,000. Janiczek Wealth Management LLC increased its position in Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Agnico Eagle Mines by 92.1% during the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $82.09 on Wednesday. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $85.14. 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 has a fifty day simple moving average of $80.21 and a 200 day simple moving average of $72.01. The company has a market cap of $41.07 billion, a P/E ratio of 86.41, a P/E/G ratio of 0.71 and a beta of 1.10.

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, beating analysts’ consensus estimates of $0.93 by $0.14. The company 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 firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on AEM. BMO Capital Markets lowered their price target on shares of 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. TD Securities raised their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Scotiabank raised their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada upped their target price 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.