Golden State Equity Partners Invests $205,000 in Agnico Eagle Mines Limited (NYSE:AEM)

Golden State Equity Partners bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,548 shares of the mining company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 24.1% during the 1st quarter. TD Asset Management Inc now owns 5,306,106 shares of the mining company’s stock valued at $316,700,000 after purchasing an additional 1,031,142 shares in the last quarter. Capital Wealth Planning LLC grew its holdings in shares of Agnico Eagle Mines by 62.3% during the first quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock valued at $156,304,000 after buying an additional 1,006,001 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Agnico Eagle Mines by 27.9% in the 1st quarter. National Bank of Canada FI now owns 4,007,554 shares of the mining company’s stock valued at $239,051,000 after purchasing an additional 874,920 shares during the period. First Eagle Investment Management LLC increased its stake in Agnico Eagle Mines by 10.8% in the 1st quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock valued at $411,106,000 after buying an additional 672,503 shares during the period. Finally, Progeny 3 Inc. acquired a new position in shares of Agnico Eagle Mines in the second quarter worth $18,151,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Down 2.2 %

Shares of NYSE AEM opened at $86.28 on Friday. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The company has a market cap of $43.16 billion, a price-to-earnings ratio of 90.82, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. 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 firm’s 50-day simple moving average is $82.24 and its 200 day simple moving average is $73.96.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 30th. The mining company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $1.83 billion. On average, research analysts expect that Agnico Eagle Mines Limited will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. CIBC raised their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Scotiabank increased their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average 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.