Jupiter Asset Management Ltd. Grows Stock Position in Agnico Eagle Mines Limited $AEM

Jupiter Asset Management Ltd. lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 487,466 shares of the mining company’s stock after acquiring an additional 59,417 shares during the quarter. Jupiter Asset Management Ltd. owned 0.10% of Agnico Eagle Mines worth $57,960,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Agnico Eagle Mines during the first quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Agnico Eagle Mines during the first quarter worth $26,000. City State Bank lifted its position in Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after acquiring an additional 110 shares during the period. Finally, Dagco Inc. acquired a new stake in shares of Agnico Eagle Mines during the first quarter worth about $39,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 0.1%

AEM opened at $167.78 on Wednesday. The business’s 50-day simple moving average is $162.29 and its 200-day simple moving average is $136.85. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $187.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The company has a market cap of $84.30 billion, a P/E ratio of 24.49, a PEG ratio of 0.70 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.40. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates 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 company posted $1.14 earnings per share. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on AEM. CIBC increased their price target on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Raymond James Financial boosted their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research note on Friday, October 24th. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Finally, Bank of America lifted their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $184.50.

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.