OLD National Bancorp IN Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

OLD National Bancorp IN bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,884 shares of the mining company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AEM. Global Assets Advisory LLC purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $2,691,000. Sunbelt Securities Inc. purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $66,000. GoalVest Advisory LLC purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $57,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $426,000. Finally, Janiczek Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.7 %

AEM stock opened at $88.64 on Thursday. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $88.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The company has a market capitalization of $44.34 billion, a price-to-earnings ratio of 93.31, a PEG ratio of 0.71 and a beta of 1.10. The business has a 50 day simple moving average of $81.23 and a two-hundred day simple moving average of $72.85.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Scotiabank upped their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. CIBC boosted their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, UBS Group assumed coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.78.

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.