Lmcg Investments LLC Boosts Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Lmcg Investments LLC boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.6% in the third quarter, HoldingsChannel reports. The fund owned 203,387 shares of the mining company’s stock after purchasing an additional 1,138 shares during the quarter. Agnico Eagle Mines makes up 1.0% of Lmcg Investments LLC’s portfolio, making the stock its 22nd largest position. Lmcg Investments LLC’s holdings in Agnico Eagle Mines were worth $16,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AEM. Sapient Capital LLC increased its holdings in Agnico Eagle Mines by 1.3% in the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock valued at $886,000 after buying an additional 145 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Agnico Eagle Mines by 2.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after acquiring an additional 158 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in Agnico Eagle Mines by 0.3% during the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after acquiring an additional 189 shares during the last quarter. Lombard Odier Asset Management Europe Ltd boosted its position in Agnico Eagle Mines by 0.4% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock worth $3,248,000 after acquiring an additional 190 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its holdings in Agnico Eagle Mines by 4.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group initiated coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. TD Securities increased their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded down $0.49 on Friday, reaching $85.80. 1,844,703 shares of the stock were exchanged, compared to its average volume of 2,663,666. The stock has a market cap of $43.05 billion, a PE ratio of 42.90, a PEG ratio of 0.78 and a beta of 1.10. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00. The firm has a fifty day moving average price of $82.30 and a two-hundred day moving average price of $74.13.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.98%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. Agnico Eagle Mines’s revenue was up 20.9% compared to the same quarter last year. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.01 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.