Montrusco Bolton Investments Inc. Has $32.93 Million Stock Position in Agnico Eagle Mines Limited $AEM

Montrusco Bolton Investments Inc. lowered its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,760 shares of the mining company’s stock after selling 8,364 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Agnico Eagle Mines were worth $32,932,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AEM. Capital World Investors grew its stake in Agnico Eagle Mines by 2.8% in the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after acquiring an additional 572,473 shares during the period. Vanguard Group Inc. raised its position in shares of Agnico Eagle Mines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after purchasing an additional 309,717 shares during the period. Van ECK Associates Corp raised its position in shares of Agnico Eagle Mines by 21.6% during the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after purchasing an additional 3,062,705 shares during the period. TD Asset Management Inc lifted its holdings in shares of Agnico Eagle Mines by 1.7% during the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock valued at $1,641,239,000 after purchasing an additional 165,263 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Agnico Eagle Mines by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock valued at $1,489,509,000 after purchasing an additional 332,797 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 0.0%

AEM stock opened at $153.80 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The stock has a market capitalization of $78.06 billion, a P/E ratio of 14.45, a P/E/G ratio of 3.37 and a beta of 0.60. Agnico Eagle Mines Limited has a fifty-two week low of $115.19 and a fifty-two week high of $255.24. The business has a 50-day moving average of $174.55 and a 200-day moving average of $193.54.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 EPS. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 13.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Barclays started coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price target on the stock. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, TD raised their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $236.23.

Key Headlines Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Negative Sentiment: Agnico Eagle suspended mining at the Barnat open pit after a rock mass movement, creating uncertainty around production at the Canadian Malartic complex. AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC
• Negative Sentiment: Several reports highlighted the operational issue and possible production impact, reinforcing the market’s concern about a short-term earnings headwind. Agnico Eagle suspends Quebec pit mining, flags production hit
• Neutral Sentiment: Scotia slightly lowered its price target on Agnico Eagle to $278 from $280 while keeping a “sector outperform” rating, signaling continued optimism despite the recent operational setback. BayStreet.CA analyst ratings

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.