Violich Capital Management Inc. Increases Holdings in Agnico Eagle Mines Limited $AEM

Violich Capital Management Inc. boosted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,030 shares of the mining company’s stock after purchasing an additional 5,713 shares during the period. Agnico Eagle Mines comprises 0.8% of Violich Capital Management Inc.’s investment portfolio, making the stock its 25th biggest position. Violich Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $7,085,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AEM. Ninety One UK Ltd increased its position in Agnico Eagle Mines by 386.5% during the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after purchasing an additional 149,506 shares during the last quarter. Addenda Capital Inc. increased its holdings in shares of Agnico Eagle Mines by 2.3% during the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock worth $122,076,000 after buying an additional 15,965 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of Agnico Eagle Mines by 1,560.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after buying an additional 45,746 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Agnico Eagle Mines by 12.7% in the 2nd quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock worth $52,101,000 after buying an additional 49,480 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Agnico Eagle Mines by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,178,532 shares of the mining company’s stock valued at $140,135,000 after acquiring an additional 31,087 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AEM. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research note on Sunday, December 7th. UBS Group raised their price target on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, December 1st. Bank of America lifted their price target on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday. Finally, TD Securities lifted their target price on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $211.70.

Agnico Eagle Mines Stock Down 1.4%

Shares of NYSE:AEM opened at $197.61 on Monday. The company has a market capitalization 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 50 day moving average of $174.19 and a two-hundred day moving average of $156.18. Agnico Eagle Mines Limited has a 52-week low of $82.86 and a 52-week high of $201.95. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the business earned $1.14 EPS. As a group, analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

About Agnico Eagle Mines

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.