Anthracite Investment Company Inc. Purchases New Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Anthracite Investment Company Inc. acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 40,000 shares of the mining company’s stock, valued at approximately $2,194,000. Agnico Eagle Mines accounts for approximately 1.2% of Anthracite Investment Company Inc.’s holdings, making the stock its 27th biggest holding.

Several other large investors also recently added to or reduced their stakes in the company. Blair William & Co. IL boosted its position in shares of Agnico Eagle Mines by 5.9% in the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock worth $1,078,000 after buying an additional 1,313 shares during the period. Raymond James & Associates lifted its stake in Agnico Eagle Mines by 15.5% in the 4th quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock worth $19,990,000 after acquiring an additional 48,782 shares in the last quarter. Beck Bode LLC acquired a new stake in Agnico Eagle Mines during the 4th quarter worth about $1,318,000. Wellington Management Group LLP grew its stake in Agnico Eagle Mines by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after acquiring an additional 34,072 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $41,610,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AEM shares. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. TD Securities lifted their target price on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Citigroup increased their price objective on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, CIBC boosted their target price on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.63.

Agnico Eagle Mines Stock Up 1.9 %

Shares of AEM stock traded up $1.30 on Friday, hitting $70.11. The company’s stock had a trading volume of 2,642,339 shares, compared to its average volume of 2,821,587. The stock has a market capitalization of $35.01 billion, a price-to-earnings ratio of 73.80, a P/E/G ratio of 0.83 and a beta of 1.04. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $70.37. The firm’s fifty day moving average price is $61.90 and its 200-day moving average price is $54.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Research analysts anticipate that Agnico Eagle Mines Limited will post 3.17 EPS for the current 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.