Northwestern Mutual Wealth Management Co. Acquires New Holdings in Agnico Eagle Mines Limited $AEM

Northwestern Mutual Wealth Management Co. bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, Holdings Channel reports. The firm bought 4,628 shares of the mining company’s stock, valued at approximately $718,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AEM shares. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Citigroup dropped their price objective on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Barclays cut their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Zacks Research downgraded Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, UBS Group dropped their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Twelve equities 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 stock. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $213.84 on Thursday. The business has a fifty day simple moving average of $163.73 and a 200 day simple moving average of $187.18. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $108.40 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.79 and a beta of 0.60. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the business earned $1.94 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 35.0% compared to the same quarter last year. Sell-side analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Agnico Eagle Mines Company 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.