Agnico Eagle Mines Limited $AEM Shares Acquired by Advisors Capital Management LLC

Advisors Capital Management LLC grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,638 shares of the mining company’s stock after purchasing an additional 1,242 shares during the period. Advisors Capital Management LLC’s holdings in Agnico Eagle Mines were worth $12,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. McAdam LLC acquired a new position in shares of Agnico Eagle Mines in the 1st quarter valued at $201,000. Intech Investment Management LLC lifted its stake in shares of Agnico Eagle Mines by 144.9% in the 1st quarter. Intech Investment Management LLC now owns 68,697 shares of the mining company’s stock valued at $7,442,000 after purchasing an additional 40,644 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in shares of Agnico Eagle Mines by 32.6% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock valued at $55,214,000 after purchasing an additional 125,223 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Agnico Eagle Mines by 4.6% in the 1st quarter. United Services Automobile Association now owns 16,865 shares of the mining company’s stock valued at $1,813,000 after purchasing an additional 735 shares during the last quarter. Finally, Everstar Asset Management LLC lifted its stake in shares of Agnico Eagle Mines by 13.3% in the 1st quarter. Everstar Asset Management LLC now owns 6,669 shares of the mining company’s stock valued at $723,000 after purchasing an additional 781 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $153.67 on Friday. The stock’s 50-day moving average is $132.64 and its two-hundred day moving average is $119.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $156.18. The company has a market cap of $77.27 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.05 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the business earned $1.07 EPS. Agnico Eagle Mines’s revenue was up 35.6% on a year-over-year basis. Analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AEM shares. Lake Street Capital reissued a “buy” rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Royal Bank Of Canada increased their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. CIBC reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Finally, Bank of America increased their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Five analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus price target of $136.90.

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.