Northwestern Mutual Wealth Management Co. Makes New Investment in Agnico Eagle Mines Limited $AEM

Northwestern Mutual Wealth Management Co. bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,628 shares of the mining company’s stock, valued at approximately $718,000.

Other institutional investors have also made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Dunhill Financial LLC acquired a new stake in Agnico Eagle Mines during the 2nd quarter valued at $31,000. Jessup Wealth Management Inc acquired a new stake in Agnico Eagle Mines during the 4th quarter valued at $35,000. Allied Private Wealth LLC purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at $36,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at $39,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AEM. Scotiabank lowered their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays decreased their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Scotia lowered their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 3rd. Finally, Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a report on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $213.84 on Thursday. The company’s fifty day moving average is $163.73 and its 200-day moving average is $187.18. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24. The firm has a market cap of $108.40 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.79 and a beta of 0.60. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm earned $1.94 EPS. Agnico Eagle Mines’s revenue for the quarter was up 35.0% on a year-over-year basis. Equities analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.