Azzad Asset Management Inc. ADV Raises Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Azzad Asset Management Inc. ADV increased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.4% in the 1st quarter, HoldingsChannel reports. The fund owned 61,631 shares of the mining company’s stock after purchasing an additional 1,416 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Agnico Eagle Mines were worth $3,676,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AEM. 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 purchasing an additional 48,782 shares in the last quarter. Beck Bode LLC bought a new stake in Agnico Eagle Mines during the fourth quarter valued at $1,318,000. Wellington Management Group LLP grew its position in Agnico Eagle Mines by 5.7% during the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock worth $28,752,000 after buying an additional 34,072 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Agnico Eagle Mines in the 4th quarter worth about $2,297,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $41,610,000. 68.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. CIBC upped their price objective on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. TD Securities raised their price objective on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. BMO Capital Markets cut their target price on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $58.00 to $59.00 and gave the company a “hold” rating in a research report on Thursday, June 20th. Finally, Citigroup upped 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.22.

Agnico Eagle Mines Stock Up 4.1 %

Agnico Eagle Mines stock traded up $2.70 on Wednesday, hitting $68.37. 774,327 shares of the stock traded hands, compared to its average volume of 2,939,596. Agnico Eagle Mines Limited has a 1 year low of $43.22 and a 1 year high of $71.50. The firm has a market cap of $34.20 billion, a P/E ratio of 69.14, a price-to-earnings-growth ratio of 0.72 and a beta of 1.06. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $66.42 and its 200 day simple moving average is $58.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. The firm had revenue of $1.83 billion for 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 company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 3.16 earnings per share 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.