Ruggaard & Associates LLC Acquires New Stake in Agnico Eagle Mines Limited $AEM

Ruggaard & Associates LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,088 shares of the mining company’s stock, valued at approximately $2,185,000. Agnico Eagle Mines accounts for 0.8% of Ruggaard & Associates LLC’s investment portfolio, making the stock its 17th largest holding.

A number of other large investors have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $26,000. Dunhill Financial LLC bought a new position in shares of Agnico Eagle Mines during the second quarter worth about $31,000. Fiduciary Financial Advisors bought a new stake in Agnico Eagle Mines in the 2nd quarter valued at approximately $32,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Finally, University of Texas Texas AM Investment Management Co. grew its stake in shares of Agnico Eagle Mines by 64.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock worth $39,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 0.6%

NYSE AEM opened at $215.35 on Friday. The company has a market cap of $109.16 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.66 and a beta of 0.60. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $164.70 and a 200-day moving average of $187.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the business earned $1.94 earnings per share. Agnico Eagle Mines’s revenue was up 35.0% on a year-over-year basis. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AEM shares. Wall Street Zen lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their price target for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Bank of America cut their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $226.00.

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.