Massachusetts Financial Services Co. MA Purchases 602,489 Shares of Agnico Eagle Mines Limited $AEM

Massachusetts Financial Services Co. MA boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,712,397 shares of the mining company’s stock after acquiring an additional 602,489 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Agnico Eagle Mines were worth $1,974,242,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pure Portfolios Holdings LLC increased its position in shares of Agnico Eagle Mines by 1.6% during the third quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock worth $637,000 after purchasing an additional 60 shares in the last quarter. HB Wealth Management LLC raised its stake in Agnico Eagle Mines by 1.2% in the third quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock valued at $951,000 after buying an additional 69 shares during the last quarter. Union Bancaire Privee UBP SA boosted its holdings in Agnico Eagle Mines by 1.6% in the third quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock worth $749,000 after acquiring an additional 72 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Agnico Eagle Mines by 0.9% during the second quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock worth $979,000 after acquiring an additional 77 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 1.4%

AEM stock opened at $197.61 on Friday. The company has a market capitalization of $98.94 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63. Agnico Eagle Mines Limited has a 12 month low of $82.86 and a 12 month high of $201.95. The firm’s fifty day simple moving average is $174.19 and its 200-day simple moving average is $155.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results 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. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the company posted $1.14 earnings per share. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research analyst reports. TD Securities boosted their target price on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Bank of America lifted 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. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 11th. Finally, Citigroup lifted their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $211.70.

Agnico Eagle Mines 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.