Colonial Trust Advisors Takes $51,000 Position in Agnico Eagle Mines Limited $AEM

Colonial Trust Advisors bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 431 shares of the mining company’s stock, valued at approximately $51,000.

A number of other institutional investors have also added to or reduced their stakes in AEM. Norges Bank acquired a new stake in Agnico Eagle Mines in the second quarter valued at approximately $938,644,000. Picton Mahoney Asset Management bought a new stake in Agnico Eagle Mines during the 2nd quarter worth $134,059,000. Canada Pension Plan Investment Board increased its holdings in Agnico Eagle Mines by 57.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock worth $254,029,000 after purchasing an additional 854,924 shares in the last quarter. Nuveen LLC bought a new position in Agnico Eagle Mines in the first quarter valued at about $85,926,000. Finally, Geode Capital Management LLC boosted its stake in shares of Agnico Eagle Mines by 21.1% during the second quarter. Geode Capital Management LLC now owns 4,136,535 shares of the mining company’s stock valued at $501,717,000 after purchasing an additional 722,117 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

AEM stock opened at $173.89 on Friday. The firm has a market cap of $87.23 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $166.06 and a 200-day moving average price of $141.30. Agnico Eagle Mines Limited has a 1-year low of $76.91 and a 1-year high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.During the same quarter last year, the firm posted $1.14 earnings per share. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. CIBC upped their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. UBS Group boosted their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial upped their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Wall Street Zen upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Finally, Bank of America boosted their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Five research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $184.50.

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.