Carnegie Lake Advisors LLC Acquires New Stake in Agnico Eagle Mines Limited $AEM

Carnegie Lake Advisors LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,814 shares of the mining company’s stock, valued at approximately $216,000.

A number of other large investors have also modified their holdings of the business. Ameritas Advisory Services LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines during the 1st quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at about $26,000. City State Bank lifted its stake in Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in Agnico Eagle Mines by 454.9% in 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. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $161.28 on Friday. The stock has a fifty day simple moving average of $161.41 and a 200-day simple moving average of $135.94. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The stock has a market cap of $81.04 billion, a PE ratio of 23.54, a P/E/G ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS 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 analysts’ expectations 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 in the prior year, the company posted $1.14 earnings per share. Equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Weiss Ratings cut Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a report on Friday, October 24th. CIBC lifted their price target on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial boosted their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and an average price target of $184.50.

Agnico Eagle Mines Company 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.