Red Cedar Investment Management LLC Increases Stock Holdings in Agnico Eagle Mines Limited $AEM

Red Cedar Investment Management LLC grew its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,341 shares of the mining company’s stock after purchasing an additional 5,668 shares during the quarter. Agnico Eagle Mines makes up about 0.7% of Red Cedar Investment Management LLC’s holdings, making the stock its 28th biggest position. Red Cedar Investment Management LLC’s holdings in Agnico Eagle Mines were worth $6,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AEM. Abound Wealth Management grew its position in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after buying an additional 104 shares during the last quarter. Lodestone Wealth Management LLC purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at $35,000. Caitlin John LLC acquired a new position in Agnico Eagle Mines in the third quarter valued at $36,000. Bangor Savings Bank acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $37,000. Finally, Addison Advisors LLC grew its holdings in shares of Agnico Eagle Mines by 94.1% during the third quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock worth $39,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AEM. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Erste Group Bank lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. increased their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Stock Down 1.5%

Shares of Agnico Eagle Mines stock opened at $159.65 on Wednesday. Agnico Eagle Mines Limited has a one year low of $114.60 and a one year high of $255.24. The company has a market cap of $79.90 billion, a P/E ratio of 15.00, a PEG ratio of 3.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The firm has a fifty day moving average of $192.71 and a two-hundred day moving average of $194.65.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business’s revenue was up 66.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 earnings per share. On average, analysts forecast that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current year.

Agnico Eagle Mines Company 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.