Agnico Eagle Mines Limited $AEM Shares Bought by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 795.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,011 shares of the mining company’s stock after purchasing an additional 109,271 shares during the period. Cidel Asset Management Inc.’s holdings in Agnico Eagle Mines were worth $19,106,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AEM. Acumen Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Markowski Investments purchased a new stake in Agnico Eagle Mines during the 2nd quarter worth approximately $29,000. Dunhill Financial LLC acquired a new stake in Agnico Eagle Mines during the 2nd quarter worth approximately $31,000. Fiduciary Financial Advisors purchased a new position in Agnico Eagle Mines in the 2nd quarter valued at approximately $32,000. Finally, Jessup Wealth Management Inc purchased a new position in Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 1.5%

Shares of NYSE:AEM opened at $201.74 on Wednesday. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24. The company’s 50 day moving average is $171.68 and its two-hundred day moving average is $186.65. 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 market cap of $102.26 billion, a PE ratio of 17.26, a P/E/G ratio of 2.55 and a beta of 0.67.

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

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of recent research reports. Barclays cut their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Bank of America lowered their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Finally, Scotiabank decreased their price objective on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited is a Canadian-based gold mining company engaged in the exploration, development and production of gold and other mineral resources. The company’s primary product is gold, with silver and other byproducts also recovered from certain operations. Its activities include operating mines, advancing development projects and conducting exploration to expand and replace mineral reserves.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s major gold producers.