Violich Capital Management Inc. Boosts Stock Position in Agnico Eagle Mines Limited $AEM

Violich Capital Management Inc. grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,030 shares of the mining company’s stock after buying an additional 5,713 shares during the quarter. Agnico Eagle Mines accounts for about 0.8% of Violich Capital Management Inc.’s investment portfolio, making the stock its 25th largest holding. Violich Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $7,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AEM. Ameritas Advisory Services LLC bought a new position in Agnico Eagle Mines during the 2nd quarter valued at $25,000. True Wealth Design LLC raised its stake in shares of Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the second quarter worth about $29,000. City State Bank grew its stake in 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 purchasing an additional 110 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased 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 valued at $33,000 after buying an additional 74 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $197.61 on Monday. The firm has a fifty day moving average of $174.19 and a 200-day moving average of $156.18. The company has a market cap of $98.94 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. Agnico Eagle Mines Limited has a 1 year low of $82.86 and a 1 year high of $201.95.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data 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 firm 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 15.64%. During the same period last year, the firm posted $1.14 EPS. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AEM shares. Wall Street Zen raised Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. TD Securities raised their price target 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. Finally, Citigroup boosted their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus 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.