Invesco Ltd. Raises Holdings in Agnico Eagle Mines Limited $AEM

Invesco Ltd. lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 53.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,164,046 shares of the mining company’s stock after purchasing an additional 1,444,746 shares during the quarter. Invesco Ltd.’s holdings in Agnico Eagle Mines were worth $495,230,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AEM. Ameritas Advisory Services LLC purchased a new position in Agnico Eagle Mines during the 2nd quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at $29,000. City State Bank increased its position in Agnico Eagle Mines by 69.2% in the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares during the last quarter. Finally, Dagco Inc. purchased a new stake in Agnico Eagle Mines during the first quarter valued at $39,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on AEM shares. TD Securities lifted their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Bank of America increased their price target on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday, October 23rd. CIBC upped their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Finally, Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 30th. Five investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Buy” and a consensus target price of $185.50.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $171.65 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12 month low of $76.91 and a 12 month high of $187.50. The company has a market capitalization of $86.11 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 0.62 and a beta of 0.64. The firm’s 50-day moving average is $166.88 and its 200 day moving average is $143.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Research analysts predict that Agnico Eagle Mines Limited will post 4.63 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.