K.J. Harrison & Partners Inc Raises Stock Position in Agnico Eagle Mines Limited $AEM

K.J. Harrison & Partners Inc raised its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 87.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 64,176 shares of the mining company’s stock after buying an additional 30,000 shares during the quarter. Agnico Eagle Mines makes up approximately 1.3% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 13th biggest holding. K.J. Harrison & Partners Inc’s holdings in Agnico Eagle Mines were worth $7,632,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AEM. Brighton Jones LLC increased its holdings in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after buying an additional 331 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines during the 1st quarter worth approximately $34,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company’s stock worth $618,000 after purchasing an additional 85 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Agnico Eagle Mines during the 1st quarter worth approximately $226,000. Finally, Private Trust Co. NA increased its stake in shares of Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after purchasing an additional 232 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AEM shares. CIBC raised their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Bank of America raised their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Citigroup raised their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Finally, Wall Street Zen upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Five research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus price target of $184.50.

Agnico Eagle Mines Stock Down 1.1%

Shares of NYSE AEM opened at $160.80 on Monday. The firm has a market cap of $80.79 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 0.70 and a beta of 0.46. The firm’s 50 day moving average price is $159.41 and its 200 day moving average price is $134.81. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $187.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same quarter last year, the business earned $1.14 EPS. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 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.