Eastern Bank Takes $273,000 Position in Agnico Eagle Mines Limited (NYSE:AEM)

Eastern Bank purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,389 shares of the mining company’s stock, valued at approximately $273,000.

A number of other hedge funds have also recently added to or reduced their stakes in AEM. Van ECK Associates Corp raised its position in shares of Agnico Eagle Mines by 0.3% in the 2nd quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company’s stock valued at $1,459,741,000 after buying an additional 58,681 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Agnico Eagle Mines by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock worth $868,638,000 after purchasing an additional 134,872 shares during the last quarter. Capital World Investors boosted its holdings in shares of Agnico Eagle Mines by 0.8% in the 1st quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock valued at $582,529,000 after purchasing an additional 79,275 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Agnico Eagle Mines by 10.8% in the 1st quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock valued at $411,106,000 after purchasing an additional 672,503 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Agnico Eagle Mines by 4.1% during the 2nd quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock worth $397,657,000 after buying an additional 237,347 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 0.7 %

Shares of AEM opened at $87.97 on Friday. The company has a market capitalization of $44.01 billion, a PE ratio of 92.60, a PEG ratio of 0.71 and a beta of 1.10. The stock’s 50-day moving average price is $81.64 and its two-hundred day moving average price is $73.06. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $89.00.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on AEM. Scotiabank raised their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, October 4th. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective for the company. TD Securities boosted their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

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.