Barometer Capital Management Inc. Buys Shares of 82,770 Agnico Eagle Mines Limited (NYSE:AEM)

Barometer Capital Management Inc. bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 82,770 shares of the mining company’s stock, valued at approximately $4,540,000. Agnico Eagle Mines comprises approximately 1.4% of Barometer Capital Management Inc.’s portfolio, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blair William & Co. IL increased its holdings in Agnico Eagle Mines by 5.9% during the 3rd quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock worth $1,078,000 after acquiring an additional 1,313 shares during the period. Raymond James & Associates increased its holdings in Agnico Eagle Mines by 15.5% during the 4th quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock worth $19,990,000 after acquiring an additional 48,782 shares during the period. Beck Bode LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $1,318,000. Wellington Management Group LLP increased its holdings in Agnico Eagle Mines by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock worth $28,752,000 after acquiring an additional 34,072 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $2,297,000. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AEM shares. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. BMO Capital Markets increased their target price on shares of Agnico Eagle Mines from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, CIBC increased their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.22.

Agnico Eagle Mines Price Performance

Shares of AEM stock traded down $0.61 on Tuesday, hitting $64.63. 1,367,010 shares of the stock traded hands, compared to its average volume of 3,079,508. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 68.03, a PEG ratio of 0.66 and a beta of 1.11. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $71.50. The firm has a 50 day simple moving average of $65.40 and a two-hundred day simple moving average of $56.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. Agnico Eagle Mines’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the company posted $0.57 earnings per share. As a group, equities research analysts predict that Agnico Eagle Mines Limited will post 3.2 earnings per share for the current fiscal year.

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.