Agnico Eagle Mines Limited $AEM Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 795.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 123,011 shares of the mining company’s stock after acquiring an additional 109,271 shares during the period. Cidel Asset Management Inc.’s holdings in Agnico Eagle Mines were worth $19,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AEM. Acumen Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $26,000. Markowski Investments acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth about $29,000. Dunhill Financial LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth about $31,000. Fiduciary Financial Advisors purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at about $32,000. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $35,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $201.74 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The stock has a fifty day moving average price of $171.68 and a 200 day moving average price of $186.65. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24. The company has a market cap of $102.26 billion, a PE ratio of 17.26, a P/E/G ratio of 2.55 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. Agnico Eagle Mines’s revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 EPS. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AEM shares. UBS Group dropped their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised their target price on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Zacks Research raised shares of Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a report on Monday. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Canadian Imperial Bank of Commerce set a $285.00 price target on shares of Agnico Eagle Mines in a research note on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited is a Canadian-based gold mining company engaged in the exploration, development and production of gold and other mineral resources. The company’s primary product is gold, with silver and other byproducts also recovered from certain operations. Its activities include operating mines, advancing development projects and conducting exploration to expand and replace mineral reserves.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s major gold producers.