Prudential Financial Inc. Buys 18,344 Shares of Agnico Eagle Mines Limited $AEM

Prudential Financial Inc. lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 55.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,381 shares of the mining company’s stock after acquiring an additional 18,344 shares during the quarter. Prudential Financial Inc.’s holdings in Agnico Eagle Mines were worth $6,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEM. Ameritas Advisory Services LLC bought a new stake in Agnico Eagle Mines in the 2nd quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Agnico Eagle Mines in the 1st quarter worth $26,000. City State Bank grew its holdings in shares of Agnico Eagle Mines by 69.2% in the second 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. Costello Asset Management INC grew its holdings in shares of Agnico Eagle Mines by 2,166.7% in the second quarter. Costello Asset Management INC now owns 340 shares of the mining company’s stock worth $40,000 after acquiring an additional 325 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Agnico Eagle Mines during the second quarter valued at $41,000. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America raised their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. TD Securities boosted their target price on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Raymond James Financial increased their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, UBS Group lifted their price target on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Five investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Trading Up 0.5%

Agnico Eagle Mines stock opened at $173.89 on Friday. Agnico Eagle Mines Limited has a 12-month low of $76.91 and a 12-month high of $187.50. The firm has a market capitalization of $87.23 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 0.70 and a beta of 0.45. The firm has a 50 day moving average of $166.06 and a 200 day moving average of $141.54. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.40. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate 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 firm earned $1.14 earnings per share. As a group, research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

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.