HighTower Advisors LLC Has $8.96 Million Stock Holdings in Agnico Eagle Mines Limited $AEM

HighTower Advisors LLC lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 52,877 shares of the mining company’s stock after purchasing an additional 6,757 shares during the quarter. HighTower Advisors LLC’s holdings in Agnico Eagle Mines were worth $8,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AEM. Capital World Investors grew its position in shares of Agnico Eagle Mines by 20.0% in the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. Lazard Asset Management LLC grew its position in shares of Agnico Eagle Mines by 566.2% in the 3rd quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock valued at $149,593,000 after purchasing an additional 754,919 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Agnico Eagle Mines by 26,635.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 736,835 shares of the mining company’s stock valued at $124,916,000 after purchasing an additional 734,079 shares during the period. Korea Investment CORP grew its position in shares of Agnico Eagle Mines by 138.5% in the 3rd quarter. Korea Investment CORP now owns 972,595 shares of the mining company’s stock valued at $163,847,000 after purchasing an additional 564,723 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $68,467,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 0.1%

NYSE:AEM opened at $175.79 on Tuesday. Agnico Eagle Mines Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $197.11 and a two-hundred day moving average price of $194.08. The company has a market cap of $87.98 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 3.84 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm posted $1.53 EPS. The business’s revenue was up 66.1% on a year-over-year basis. As a group, analysts expect that Agnico Eagle Mines Limited will post 13.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEM. UBS Group decreased their price objective on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. JPMorgan Chase & Co. boosted their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reduced their price target on Agnico Eagle Mines from $312.00 to $304.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Finally, Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.