Violich Capital Management Inc. Acquires 1,850 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Violich Capital Management Inc. increased its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 33,717 shares of the mining company’s stock after buying an additional 1,850 shares during the quarter. Violich Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $2,716,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Continuum Advisory LLC grew its position in shares of Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after acquiring an additional 363 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in Agnico Eagle Mines in the second quarter worth $32,000. Stephens Consulting LLC bought a new position in shares of Agnico Eagle Mines during the 1st quarter worth $30,000. McClarren Financial Advisors Inc. boosted its holdings in Agnico Eagle Mines by 684.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after buying an additional 445 shares during the period. Finally, Janiczek Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after buying an additional 569 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank upped their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. 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 report on Friday, August 2nd. Finally, Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $86.17 on Monday. The business’s 50-day moving average price is $80.82 and its 200-day moving average price is $72.41. The firm has a market capitalization of $43.11 billion, a PE ratio of 90.71, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $86.64. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 8.44% and a return on equity of 7.16%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

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.