Wealthfront Advisers LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Wealthfront Advisers LLC bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,224 shares of the mining company’s stock, valued at approximately $500,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEM. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Agnico Eagle Mines by 1.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock worth $893,000 after buying an additional 59 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Agnico Eagle Mines by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock valued at $2,422,000 after acquiring an additional 63 shares during the last quarter. Syon Capital LLC lifted its holdings in Agnico Eagle Mines by 1.8% in the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock valued at $623,000 after acquiring an additional 65 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Agnico Eagle Mines by 1.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock valued at $728,000 after acquiring an additional 67 shares during the period. Finally, Rossby Financial LCC boosted its position in Agnico Eagle Mines by 1.1% in the fourth quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock worth $1,197,000 after purchasing an additional 74 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Scotia cut their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Royal Bank Of Canada cut their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. Finally, Citigroup reduced their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a report on Monday, July 27th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Stock Up 2.3%

NYSE AEM opened at $217.02 on Friday. Agnico Eagle Mines Limited has a 52 week low of $133.80 and a 52 week high of $255.24. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $110.01 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. The stock’s 50-day moving average price is $161.03 and its 200-day moving average price is $186.71.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm’s revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.