PCJ Investment Counsel Ltd. Has $4.53 Million Holdings in Agnico Eagle Mines Limited $AEM

PCJ Investment Counsel Ltd. grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,960 shares of the mining company’s stock after acquiring an additional 3,510 shares during the quarter. Agnico Eagle Mines accounts for 1.5% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 22nd largest holding. PCJ Investment Counsel Ltd.’s holdings in Agnico Eagle Mines were worth $4,525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ameritas Advisory Services LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Agnico Eagle Mines in the first quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Agnico Eagle Mines during the first quarter worth about $26,000. Private Trust Co. NA grew its position in Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after buying an additional 232 shares in the last quarter. Finally, City State Bank increased its stake in Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $161.28 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm has a market cap of $81.04 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $187.50. The company’s 50-day moving average price is $161.41 and its two-hundred day moving average price is $135.94.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on AEM. Citigroup lifted their price objective on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Raymond James Financial raised their target price 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. Wall Street Zen raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. TD Securities increased their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Bank of America raised their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Four 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, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus price target of $184.50.

Agnico Eagle Mines Company 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.