Cwm LLC Raises Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Cwm LLC grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 58.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,168 shares of the mining company’s stock after acquiring an additional 3,366 shares during the period. Cwm LLC’s holdings in Agnico Eagle Mines were worth $547,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Confluence Investment Management LLC purchased a new stake in Agnico Eagle Mines during the 1st quarter worth $1,122,000. HighPoint Advisor Group LLC purchased a new stake in Agnico Eagle Mines during the 4th quarter worth $221,000. Grayhawk Investment Strategies Inc. purchased a new stake in Agnico Eagle Mines during the 4th quarter worth $474,000. B. Riley Wealth Advisors Inc. increased its stake in Agnico Eagle Mines by 0.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 184,254 shares of the mining company’s stock worth $10,106,000 after buying an additional 1,328 shares during the period. Finally, Vanguard Group Inc. increased its stake in Agnico Eagle Mines by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock worth $963,320,000 after buying an additional 338,264 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 1.3 %

NYSE AEM opened at $65.19 on Friday. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $71.50. The company has a 50-day simple moving average of $66.01 and a 200-day simple moving average of $57.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The firm has a market capitalization of $32.61 billion, a PE ratio of 68.62, a price-to-earnings-growth ratio of 0.71 and a beta of 1.11.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business posted $0.57 EPS. The company’s quarterly revenue was up 21.2% on a year-over-year basis. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 3.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. TD Securities boosted their target price on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Scotiabank boosted their target price on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, CIBC boosted their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of $72.22.

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.